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