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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, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
Tuesday, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
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- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- The University of Queensland
- VISA Power Limited - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
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