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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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Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow a ...
Thursday, 28 July 16
LAST WEEK ENDING UP WITH BUSIER TONES FOR SUPRAMAXES NOW COOLING DOWN - FEARNLEYS
Supramax
Last week ending up with busier tones for Supramaxes now cooling down as with index being down to 684. Average daily earnings for Supram ...
Wednesday, 27 July 16
RATES FOR THE SMALLER SIZES OVER-PERFORMED THE MARKET LAST WEEK - INTERMODAL
The decline the BDI noted last week was somewhat expected given the fact that the market has been overall firming for almost a month no ...
Wednesday, 27 July 16
GLOBAL OIL SUPPLY IS EXPECTED TO REMAIN HIGHER THAN GLOBAL CONSUMPTION IN 2016 - CHRISTOPHER WHITTY
Global oil supply is expected to remain higher than global consumption in 2016, keeping oil prices at relatively low levels this summer compared wi ...
Tuesday, 26 July 16
NORTH P&I CLUB EXPLAINS HOW TO AVOID CLAIMS FOR SELF-COOKING SOYA BEANS
KNOWLEDGE TO ELEVATE
North P&I Club has advised its members to be extra vigilant during loading and transport of soya beans to ensure they ...
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- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
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