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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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Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
Thursday, 13 September 18
SHIPPING IS INCREASINGLY CAUGHT IN THE TRADE WAR LINE OF CROSSFIRE - PETER SAND
Once again, the already long list of tariffed goods has been made even longer. Many more commodities were hit on 23 August, but September is likely ...
Wednesday, 12 September 18
THE INTERRELATIONSHIP BETWEEN LETTERS OF INDEMNITY AND CHARTERPARTY "TIME BAR" PROVISIONS - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Introduction
A recent English Court of Appeal decision provides important guidance on the applicability of charterpar ...
Wednesday, 12 September 18
IS LNG POISED FOR A NEW GROWTH CYCLE? - WOOD MACKENZIE
Gas needs to work for its long-term sustainability. But the mood music is upbeat. Just 18 months ago the LNG market was depressed, anticipating an ...
Wednesday, 12 September 18
U.S. TOTAL COAL EXPORTS TO BE 107 MMST IN 2018 AND 101 MMST IN 2019 - EIA
EIA forecasts U.S. coal production will decline by 1% to 768 million short tons (MMst) in 2018, despite a 10% (10 MMst) increase in coal exports.
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- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
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