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