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