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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, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
Thursday, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
Handy
The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...
Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...
Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
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- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Central Electricity Authority - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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