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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, 17 July 15
DO CANCELLATION RIGHTS UNDER VOYAGE CHARTERPARTY SURVIVE RE-NOMINATION OF LOAD PORT? - INCE&CO
KNOWLEDGE TO ELEVATE
Do cancellation rights under voyage charterparty survive re-nomination of load port?
St Shipping & Transport Inc ...
Thursday, 16 July 15
INDONESIA'S HBA HITS ALL-TIME LOW OF $59.16 PER METRIC TON IN JULY 2015
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.16 pe ...
Thursday, 16 July 15
FOB RICHARDS BAY COAL SWAPS DECLINE W-O-W, M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Wednesday, 15 July 15
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
The last few weeks have been rather strenuous for Greece and China, each for their own reasons, affecting most markets around the world. In Greece ...
Wednesday, 15 July 15
IRAN OIL RECOVERY TO TAKE YEARS, BUT COULD START IN 2016 - FITCH
Iranian crude oil production is likely to increase in 2016 but will take a number of years to reach its previous peak, Fitch Ratings says.
The ...
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- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- White Energy Company Limited
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
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