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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, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
Wednesday, 22 August 18
KOMIPO INVITES BIDS FOR 480K TONS OF BITUMINOUS COAL FOR BORYEONG POWER PLANT & SHIN BORYEONG POWER PLANTS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 480,000 mt of min. 5700 NAR coal of Australian origi ...
Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest ...
Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad wea ...
Friday, 17 August 18
DO ARBITRATION AGREEMENTS IN BILLS OF LADING BIND THEIR HOLDERS? - WFW
KNOWLEDGE TO ELEVATE
Bills of lading are a crucial part of the security package traditionally sought by trade finance providers.
...
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- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- The University of Queensland
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
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