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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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Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
Monday, 29 February 16
BALTIC INDEX INCHES UP THIS PAST WEEK AS SMALLER VESSELS LEND SUPPORT
COALspot.com: The freight markets rose slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global ...
Monday, 29 February 16
LOSS OF EARNINGS IN THE WAKE OF A COLLISION - GARD
KNOWLEDGE TO ELEVATE
A shipowner’s loss of earnings can form a significant part of a collision claim. Awareness of the ways of calculati ...
Friday, 26 February 16
U.S WEEKLY COAL PRODUCTION UP SLIGHTLY
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 25 February 16
DRY BULKERS ARE SCRAPPED AT RECORD PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The newbuilding market is at a lull these days, as ship owners are focusing on two fronts, getting rid of excess dry bulk tonnage and snapping up b ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
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