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