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