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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, 07 April 16
PANAMAX RATES ARE FIRMING IN BOTH HEMISHEPHERES - FEARNLEYS
Capesize
With a great volume our of west Australia, rates were finally moving to upper 3's. and stabilizing towards the middle of the week in ...
Thursday, 07 April 16
BIMCO AND GIIGNL PUBLISH A GROUNDBREAKING VOYAGE CHARTER PARTY FOR LNG TRADE
BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party & ...
Wednesday, 06 April 16
HOW LONG SHIPPING CRISIS WILL BE; WHEN SHOULD OWNERS EXPECT THE BULK CARRIERS TO BECOME PROFITABLE? - INTERMODAL
It is the consensus that dry bulk shipping has been in a crisis for quite some time now. Bulk carrier values are at historical low levels, therefor ...
Tuesday, 05 April 16
DRY BULK REVISITS 1980S LOWS AND FACES UNCERTAIN LONGER TERM OUTLOOK - MSI | HELLENIC SHIPPING NEWS
With the market near bottom, attention is turning to the length of the downturn, the effect on asset values and the impact of broader demand side c ...
Monday, 04 April 16
THE LOADING, AND SUBSEQUENT DISCHARGE, OF UNSAFE NICKEL ORE - ALL TIME TO 'COUNT' - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a recent, published, London arbitration award the English tribunal has held that all time lost as a result of loading, ...
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- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
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