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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, 25 July 16
STRONG BUYER DEMAND PUSHING UP INDONESIAN THERMAL COAL INDICES
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.73 percent week over week to averaging $40.83 per ton this past week, shows C ...
Monday, 25 July 16
THE BDI FELL ON WEAKER RATES FOR CAPESIZE & PANAMAX VESSELS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape and Panamax segments ending in neg ...
Friday, 22 July 16
U.S COAL OUTPUT ROSE 17.2% WEEK OVER WEEK - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 15.1 million short tons (mms ...
Thursday, 21 July 16
WHAT TO DO WHEN YOU DON'T GET PAID - SHIPOWNERS CLUB
Present market conditions have led to an increase in claims related to unpaid hire. To recover unpaid hire, Owners need to fully understand who the ...
Thursday, 21 July 16
CONSTRUCTIVE TOTAL LOSS: WHAT GOES IN TO CALCULATING QUANTUM? - HILL DICKINSON
KNOWLEDGE TO ELEVATE
The Commercial Court recently delivered its judgment in an important case (Connect Shipping Inc and Machrimar Management ...
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- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
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