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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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Wednesday, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
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- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Australian Coal Association
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
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