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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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Monday, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing w ...
Sunday, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
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- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
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