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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, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
Thursday, 26 September 19
INDIA INCREASES ITS ANNUAL COAL PRODUCTION BY 2.7% PER YEAR FROM 850 MILLION SHORT TONS IN 2018 TO 2 BILLION SHORT TONS BY 2050 - EIA
Worldwide coal production holds steady at about 8 billion short tons, or 160 quadrillion British thermal units (Btu), per year through 2040. Inc ...
Wednesday, 25 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
In the past five months there has been significant activity in the asset market with the dry bulk segment being by far the most volatile in terms o ...
Tuesday, 24 September 19
9TH ANNUAL SUPPLY CHAIN INNOVATION SUMMIT 2019 ASIA PACIFIC
Summit: 9th Annual Supply Chain Innovation Summit 2019 Asia Pacific
Host: Ace Events
Website: http: ...
Monday, 23 September 19
SUPRAMAX: THE ASIAN ARENA IT WAS A SLOW START, BUT DEMAND INCREASED AS THE WEEK WENT ON - BALTIC BRIEFING
Capesize
The market trended down over this past week, breaking the market out of its upward trending range. While the market traded sideways at ...
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- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
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