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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Monday, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
Friday, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
Supramax
While the Atlantic is keeping up with rates, the Pacific has been weaker says Astrup Fernley.
According to Astrup Fernley, backhaul ...
Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans ...
Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
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- Bangladesh Power Developement Board
- White Energy Company Limited
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
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