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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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Wednesday, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
Last week closed off with a massive shockwave for markets across the world following the British referendum, the result of which will mark the begi ...
Tuesday, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
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- Sical Logistics Limited - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
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