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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, 02 April 14
CHINA: ARBITRATION CLAUSES IN BILLS OF LADING UNDER CHINESE LEGAL PRACTICE - SKULD
KNOWLEDGE TO ELEVATE
Successful incorporation of a charterparty arbitration clause into the bills of lading is not a straight forward matte ...
Wednesday, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
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- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
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