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