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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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Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
Wednesday, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
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- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
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