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