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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, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
Friday, 18 December 15
CHINA GROWTH SHOCK TO HIT ENERGY, SHIPPING, STEEL MOST - FITCH
Energy, shipping and steel would be the hardest-hit sectors in Asia-Pacific (APAC) in the event of a sharp slowdown in Chinese growth, says Fitch R ...
Friday, 18 December 15
WEEKLY U.S. COAL PRODUCTION REMAINS FLAT ACROSS ALL BASINS
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 17 December 15
THE LOW DEMAND AND EXCESS COAL OUTPUT, KEEP THE FOB INDONESIA COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q1 2016 rose month on month and decline slightly week over week. For the week ended December 11, 20 ...
Thursday, 17 December 15
GLADSTONE PORT COAL RECORD LOOMING, EXPORTS UP 12% - GLADSTONE OBSERVER
COAL exports from Gladstone's port have taken a leap, with more than seven million tonnes leaving the wharves in November.
That increase i ...
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- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Ministry of Mines - Canada
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- White Energy Company Limited
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
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