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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, 14 March 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
Interest in second hand tonnage remains firm with buyers in the dry bulk sector looking to benefit from rising freight rates that are eventually ex ...
Monday, 12 March 18
DRY BULK MARKET: CAPESIZE MARKET FINDS ITS FOOTING - BALTIC BRIEFING
Capesize
Some relief for owners as the week closed out with the market finding a floor in the East. Rates on the key West Australia/China run loo ...
Monday, 12 March 18
COAL OUTPUT FROM PRIVATE MINERS UNLIKELY TO RISE IN MEDIUM TERM: ICRA
Coal output levels from private commercial miners are unlikely to go up considerably in the medium to short term, given the issues related to land ...
Saturday, 10 March 18
ENHANCED PRODUCTION BY COAL INDIA HELPS DECLINE IN COAL IMPORTS
As per the current import policy, coal is kept under Open General License (OGL) and consumers are free to import coal from the source of their choi ...
Saturday, 10 March 18
THE 'RENOS' - COURT OF APPEAL CLARIFIES CTL CALCULATION AND RIGHT OF ABANDONMENT - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the matter of the “RENOS”, Mr Justice Knowles addressed a number of issues, at first instance, regarding t ...
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Showing 1776 to 1780 news of total 6871 |
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- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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