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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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Friday, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
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- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Australian Coal Association
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- MS Steel International - UAE
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
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