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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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Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
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- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
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