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