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