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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, 16 February 17
IF I PLAN TO UNDERTAKE A CHARTERPARTY WITH AN UNFAMILIAR ENTITY, WHAT STEPS CAN I TAKE TO ENSURE THE CHARTERER WILL PAY THEIR HIRE? - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Due to the difficult conditions currently existing in the shipping market, particularly in the offshore sector, Members a ...
Wednesday, 15 February 17
SHIPPING MARKET INSIGHT - INTERMODAL
Looking at the state of the Dry Bulk market exactly a year ago, there is no doubt that there is a significant improvement and despite the fact that ...
Tuesday, 14 February 17
OPTIMISM HAS STARTED TO SLOWLY FLOW BACK INTO THE DRY BULK MARKET - GEORGE LAZARIDIS
Optimism has started to slowly flow back into the dry bulk market, with many in the market showing renewed optimism as the Pacific basin starts to ...
Monday, 13 February 17
COMBINED COAL SALES OF BUMI RESOURCES ROSE TO 87.7 MILLION TONS IN FY'16; UP 10.6 PERCENT Y/Y
COALspot.com: Combined Coal Sales of Bumi Resources rose to 87.7 million tons in FY’16 compared with 79.3 million tons in FY’15. ...
Monday, 13 February 17
THE FREIGHT MARKET CONTINUED TO TUMBLE IN FEBRUARY
COALspot.com: The Freight market was continued its downfall in all segments except Panamax for the week ending 10 February 2017.
The Balt ...
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- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- MS Steel International - UAE
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
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