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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, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
Monday, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
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- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Australian Coal Association
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
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