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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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- Sical Logistics Limited - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- ASAPP Information Group - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
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