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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, 13 June 18
SHIPPING MARKET INSIGHT - SOPHIE COTZIAS
2018 marks quite a few milestones for Greek Shipping. No need to detail again the greatness of Greek Shipping or the singular position that Greek s ...
Monday, 11 June 18
AUSTRALIAN COAL PRICES HIT 6-YEAR HIGH AS ASIA DEMAND SPIKES - REUTERS
Australian thermal coal prices have risen to their highest level since 2012 as hot weather across North Asia spurs buying ahead of the peak summer ...
Monday, 11 June 18
ANALYSING A NEW AGE OF AUTONOMOUS VESSELS - IMO
The International Maritime Organization answers the questions of Government Europa on how the next generation of autonomous vessels can be regulate ...
Friday, 08 June 18
AUSTRALIAN THERMAL COAL PRICES SURGE AS ASIA DEMAND HEATS UP - REUTERS
Australian thermal coal prices have hit their highest level since late 2016 as the market heats up on strong demand across North Asia and China in ...
Wednesday, 06 June 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
As observed last month the price of oil hit its highest level since November 2014 reaching $80 per barrel. Global oil demand growth for 2018 was sl ...
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- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- White Energy Company Limited
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- The University of Queensland
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
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