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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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Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
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- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Central Electricity Authority - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
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