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