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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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Monday, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
Friday, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
Supramax
While the Atlantic is keeping up with rates, the Pacific has been weaker says Astrup Fernley.
According to Astrup Fernley, backhaul ...
Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans ...
Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
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- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
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