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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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Monday, 14 December 15
CFR SOUTH CHINA COAL SWAP IS STILL SLIDING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 0.93(2.18%) per ton month over month.
A commodity swap ...
Sunday, 13 December 15
THE LOW VESSEL DEMANDS PUSHED DOWN BALTIC DRY INDEX FURTHER DOWN
COALspot.com: The low vessel demand across nearly all vessel sizes pushed the Baltic Exchange’s main sea freight index further down in this F ...
Sunday, 13 December 15
DRY BULK RATES KEEP ON FALLING AS LOW VESSEL DEMAND IS STILL THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market nowadays is in an endless downward spiral, which as it turns out is unable to recover, at least as long as the current balance ...
Friday, 11 December 15
US COAL PRODUCTION UP 7.7% IN WEEK ENDED DECEMBER 5, 2015
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 10 December 15
LIENING CARGO - WHICH LIEN CLAUSE APPLIES TO THE BILL OF LADING? : WIKBORG REIN | HELLENIC SHIPPING NEWS
KNOWLEDGE TO ELEVATE
In a dry bulk market where a charterer is not paying freight or hire, its counterparty is often left to consider whether ...
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- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Australian Coal Association
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- PTC India Limited - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
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