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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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Thursday, 16 January 20
SUPRAMAX: INDO/CHINA ROUND VOYAGE FIXING AROUND LOW/MID USD 6,000 BSS APS INDO - FEARNLEYS
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NEWS RELEASE
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Wednesday, 15 January 20
SHIPPING MARKET INSIGHT - INERMODAL
Happy New Year and all the best for IMO 2020 !!
The early days of IMO 2020 coming into force have certainly had an impact on the indus ...
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SOLAS AMENDMENTS ENTERING INTO FORCE 1 JANUARY 2020 - STANDARD CLUB
While the latest amendments to MARPOL annex VI which entered into force on 1 January 2020 limiting the SOx emissions from ships has been the centre ...
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- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- White Energy Company Limited
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
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