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