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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, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
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- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
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