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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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Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
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- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- The University of Queensland
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Australian Coal Association
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
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