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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, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
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- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- The University of Queensland
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
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