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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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Tuesday, 03 March 20
IMPORTANCE OF MASTER'S CARGO CHECKS - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
Adecision in recent High Court case has made it clear that there is no implied indemnity from a charterer to their counte ...
Tuesday, 03 March 20
COAL'S SHARE OF CHINA ENERGY MIX FALLS IN 2019 BUT CONSUMPTION STILL RISING - REUTERS
Coal accounted for 57.7% of China’s primary energy consumption in 2019, the National Bureau of Statistics said on Friday, down 1.5 percentage ...
Monday, 02 March 20
SHIPOWNERS AND OPERATORS COULD FACE DETENTION OF SHIPS FROM 1ST MARCH UNDER IMO RULE - ICS
Port state control authorities will begin to enforce the IMO’s Sulphur 2020 from 1st March, making it an offense for ships to carry fuel that ...
Saturday, 29 February 20
SUPRAMAX SENTIMENT WAS UP IN A FEW KEY AREAS OVER THE LAST WEEK - BALTIC BRIEFING
Capesize
The Capesize market woes related to Coronavirus have now spread through the wider global markets like wildfire. The wider supply and d ...
Thursday, 27 February 20
FOREIGN COMPANIES LIKELY TO SKIP COMMERCIAL COAL BLOCK AUCTIONS - ECONOMIC TIMES
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector. However, giv ...
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- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
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