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