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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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Tuesday, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
Colombia’s coal production will decline to around 80 million tonnes in 2019, nearly 5% below last year’s, because of low prices and dro ...
Monday, 16 September 19
THE COAL-D SHOULDER? - BALTIC EXCHANGE
Good fortune and the number 13 don’t usually go hand in hand, but when it comes to coal, 2013 actually seems to have been the commodity&rsquo ...
Monday, 16 September 19
SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a max ...
Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
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- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
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