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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
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