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