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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, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
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- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Goldman Sachs - Singapore
- The University of Queensland
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
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