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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, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which ...
Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
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- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
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