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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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- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
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