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