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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, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
Thursday, 13 August 15
THE RATES FOR CAPES KEPT RALLYING LAST WEEK - INTERMODAL
COALspot.com: Strong Capesize performance kept supporting the Dry Bulk market last week, which noted another positive weekly closing, while rates f ...
Thursday, 13 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE FALLING
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Wednesday, 12 August 15
DRY BULK MARKET: WITHOUT A DOUBT REACHED HEALTHIER LEVEL
A few weeks before the end of the summer season, the BDI is hovering around 1,200 points, providing some much needed optimism to all Dry Bulk marke ...
Wednesday, 12 August 15
REGULATION CURBS POWER OF LOCAL AUTHORITIES IN MINING SECTOR IN INDONESIA - FLORENCE G. SANTOSO
The Indonesian Government appears to be getting serious about stripping Regents of the authority to issue mining licenses. The Government took the ...
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- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- White Energy Company Limited
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Parliament of New Zealand
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