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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, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
Friday, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...
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- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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