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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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Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
Wednesday, 05 December 18
WORLD COAL PRICES FALL, WITH INDONESIA BENCHMARK FOR DECEMBER, ENDING AT LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 05 December 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
Is the rise in crude carrier rates driven only by seasonality, or is the recent positive reversal signaling the end of challenging days for the mar ...
Monday, 03 December 18
WCA'S ENGAGEMENT AT COP24 IN KATOWICE - WCA
The 24th Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC) will take place from the 2-14 December 2018 in K ...
Monday, 03 December 18
SUPRAMAX: FIXED DELIVERY KALIMANTAN TO WEST COAST INDIA, AT $11000 - THE BALTIC BRIEFING
Capesize
A roller-coaster week for the big ships with hopes soaring at the start for a mini last quarter revival, only to be dashed as the week ...
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- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- PTC India Limited - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
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