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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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Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
Friday, 18 September 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 17 September 20
LAST HOPES FOR DEMAND GROWTH SET TO DISAPPOINT THERMAL COAL EXPORTERS - IEEFA
Asian thermal coal exporters are fighting an uphill battle even in new markets
The world’s largest thermal coal exporter is eyeing new m ...
Wednesday, 16 September 20
MARKET INSIGHT - INTERMODAL
Another active week in terms of SnP has concluded in the dry bulk market with a diversified array of transactions recorded. Despite the correction ...
Friday, 11 September 20
IMO 2020: A REVIEW OF THE TRANSITION TO VLSFOS - GARD
KNOWLEDGE TO ELEVATE
Many predictions were made in the run up to the imposition of the MARPOL 2020 sulphur cap, none of which was that the tra ...
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- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- White Energy Company Limited
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Planning Commission, India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
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