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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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Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
Tuesday, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
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- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
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