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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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- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- The University of Queensland
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