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