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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, 02 April 14
CHINA: ARBITRATION CLAUSES IN BILLS OF LADING UNDER CHINESE LEGAL PRACTICE - SKULD
KNOWLEDGE TO ELEVATE
Successful incorporation of a charterparty arbitration clause into the bills of lading is not a straight forward matte ...
Wednesday, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
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- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
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