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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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Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
Wednesday, 26 November 14
SHIPPING MARKET INSIGHT - EVA TZIMA
The tanker market has been enjoying some good returns lately. Ok, that may be a big understatement, but with all the ups and downs of the past year ...
Tuesday, 25 November 14
FISCAL BREAKEVEN OIL PRICES SHOW SOVEREIGN VULNERABILITY - FITCH
COALspot.com: The vulnerability of the sovereign credit profiles of net oil exporters, as shown by their fiscal breakeven oil prices, suggests that ...
Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or ...
Tuesday, 25 November 14
FOB RICHARDS BAY COAL SWAP FOR Q4' 15 DELIVERY CLOSED AT US$ 68.20
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 gained month on month, week on week and day over day.
The Q1 swap has gain ...
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- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Independent Power Producers Association of India
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