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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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Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
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- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Australian Coal Association
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
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