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