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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, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
Despite we all knew about the Covid-19 weeks ago, few could realize the size of the thread until the last few days. The examples of China and Italy ...
Tuesday, 17 March 20
IT IS NOW UNQUESTIONABLE THAT 2020 WILL BE A MILESTONE YEAR FOR THE OIL MARKET, AS WELL AS THE WHOLE GLOBAL ECONOMY - ALLIED
It is now unquestionable that 2020 will be a milestone year for the oil market, as well as the whole global economy. The impact from the COVID-19 o ...
Tuesday, 17 March 20
PRELIMINARY FIELD EXPERIENCES ON THE EFFECTS OF LSFO AND VLSFO ON CYLINDER CONDITION - HANS JENSEN LUBRICATORS
It is now more than two months since the 0.5% sulphur cap entered into force, which have affected the operation of more than 70,000 vessels. As ant ...
Monday, 16 March 20
ULTRAMAX: S8 INDONESIA-INDIA AND S10 INDONESIA-CHINA ROUTES BOTH POSTED GAINS OF $1,412, AND $1,289 ON THE WEEK, TO CLOSE AT $5,575, AND $6,089 RESPECTIVELY - BALTIC BRIEFING
Capesize
The Capesize market came to work on Monday, with little expectation, or confidence, that the days ahead were going to bring anything o ...
Sunday, 15 March 20
CAPTIVE COAL OUTPUT RISES 19% IN APRIL-FEBRUARY - FINANCIAL EXPRESS
Coal production from captive mines in the first eleven months of the ongoing fiscal have increased by 18.8% year-on-year (y-o-y) to 51.7 million to ...
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- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Planning Commission, India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Australian Coal Association
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
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