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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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Friday, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
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- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Planning Commission, India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
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