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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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Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
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- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Minerals Council of Australia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
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