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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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Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
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- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- VISA Power Limited - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
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