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