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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, 17 July 15
DO CANCELLATION RIGHTS UNDER VOYAGE CHARTERPARTY SURVIVE RE-NOMINATION OF LOAD PORT? - INCE&CO
KNOWLEDGE TO ELEVATE
Do cancellation rights under voyage charterparty survive re-nomination of load port?
St Shipping & Transport Inc ...
Thursday, 16 July 15
INDONESIA'S HBA HITS ALL-TIME LOW OF $59.16 PER METRIC TON IN JULY 2015
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.16 pe ...
Thursday, 16 July 15
FOB RICHARDS BAY COAL SWAPS DECLINE W-O-W, M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Wednesday, 15 July 15
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
The last few weeks have been rather strenuous for Greece and China, each for their own reasons, affecting most markets around the world. In Greece ...
Wednesday, 15 July 15
IRAN OIL RECOVERY TO TAKE YEARS, BUT COULD START IN 2016 - FITCH
Iranian crude oil production is likely to increase in 2016 but will take a number of years to reach its previous peak, Fitch Ratings says.
The ...
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- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- PTC India Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
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