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