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