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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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Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
Tuesday, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
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- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
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