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