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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, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
Friday, 18 December 15
CHINA GROWTH SHOCK TO HIT ENERGY, SHIPPING, STEEL MOST - FITCH
Energy, shipping and steel would be the hardest-hit sectors in Asia-Pacific (APAC) in the event of a sharp slowdown in Chinese growth, says Fitch R ...
Friday, 18 December 15
WEEKLY U.S. COAL PRODUCTION REMAINS FLAT ACROSS ALL BASINS
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 17 December 15
THE LOW DEMAND AND EXCESS COAL OUTPUT, KEEP THE FOB INDONESIA COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q1 2016 rose month on month and decline slightly week over week. For the week ended December 11, 20 ...
Thursday, 17 December 15
GLADSTONE PORT COAL RECORD LOOMING, EXPORTS UP 12% - GLADSTONE OBSERVER
COAL exports from Gladstone's port have taken a leap, with more than seven million tonnes leaving the wharves in November.
That increase i ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
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