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