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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, 21 February 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2017 proved to be a relatively good year with positive margins for the Dry Bulk market. Especially during the last quarter of the year everyone can ...
Tuesday, 20 February 18
INDIA: COAL IMPORT RISES BY 12 PER CENT TO 18 MILLION TONNES IN JANUARY - PTI
The country’s coal import increased by 12.4 per cent to 18.49 million tonnes (MT) in January, against 16.
44 MT in the same month of the ...
Monday, 19 February 18
JOINT INSURANCE - WHY SHOULD YOU CARE? - SKULD
KNOWLEDGE TO ELEVATE
It is neither controversial nor new to say that co-assureds under a joint insurance policy cannot claim against each othe ...
Friday, 16 February 18
U.S. WEEKLY COAL OUTPUT DOWN 4.5 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 15 February 18
INDIA: THERMAL POWER PLANTS UNDER STRESS ON RISING COAL, FREIGHT COSTS - BUSINESS STANDARD
Coal-based power plants are feeling the heat of spike in thermal grade coal prices and railway freight costs.
Prices of thermal grade coal sin ...
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- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
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