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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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Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
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