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