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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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Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
Saturday, 25 April 20
KOREA SOUTH-EAST POWER CO. INVITED BIDS FOR 780K - 900K MT OF 5600 NCV COAL FOR JULY TO OCTOBER 2020 LOADING
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 780,000~900,000 Metric Tons (MT) s ...
Saturday, 25 April 20
SEAFARER MENTAL WELLBEING DURING THE COVID-19 PANDEMIC - STANDARD CLUB
KNOWLEDGE TO ELEVATE
COVID-19 has forced many parts of the world to enforce a lockdown in a bid to flatten the curve in terms of transmissions ...
Friday, 24 April 20
KOMIPO INVITED BIDS FOR 5700 NAR COAL FOR JUNE & JULY LOADING
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) Has Issued An International Tender For 260,000 Metric Tons (MT) Steam Coal ...
Friday, 24 April 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- The University of Queensland
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
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