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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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Saturday, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
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Saturday, 11 January 20
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Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
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Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
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- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- White Energy Company Limited
- PTC India Limited - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
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