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