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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, 07 April 16
PANAMAX RATES ARE FIRMING IN BOTH HEMISHEPHERES - FEARNLEYS
Capesize
With a great volume our of west Australia, rates were finally moving to upper 3's. and stabilizing towards the middle of the week in ...
Thursday, 07 April 16
BIMCO AND GIIGNL PUBLISH A GROUNDBREAKING VOYAGE CHARTER PARTY FOR LNG TRADE
BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party & ...
Wednesday, 06 April 16
HOW LONG SHIPPING CRISIS WILL BE; WHEN SHOULD OWNERS EXPECT THE BULK CARRIERS TO BECOME PROFITABLE? - INTERMODAL
It is the consensus that dry bulk shipping has been in a crisis for quite some time now. Bulk carrier values are at historical low levels, therefor ...
Tuesday, 05 April 16
DRY BULK REVISITS 1980S LOWS AND FACES UNCERTAIN LONGER TERM OUTLOOK - MSI | HELLENIC SHIPPING NEWS
With the market near bottom, attention is turning to the length of the downturn, the effect on asset values and the impact of broader demand side c ...
Monday, 04 April 16
THE LOADING, AND SUBSEQUENT DISCHARGE, OF UNSAFE NICKEL ORE - ALL TIME TO 'COUNT' - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a recent, published, London arbitration award the English tribunal has held that all time lost as a result of loading, ...
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- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Planning Commission, India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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