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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, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
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- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
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