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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, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd ...
Thursday, 19 March 20
BIMCO REVISES 2020 FORECAST FOR MAIN SHIPPING MARKETS
The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the fu ...
Thursday, 19 March 20
U.S. COAL EXPORTS DECLINED IN 2019 - EIA
In 2019, U.S. coal exports declined to 93 million short tons (MMst), a 20% decrease from the previous year, according to the U.S. Energy Informatio ...
Thursday, 19 March 20
SOUTH KOREA'S KOSPO INVITED BIDS FOR MIN 3,700 OR MIN 4,200 NCV LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO), has issued an international tender for total 160,000 MT (±10%) (80,000 x 2 Panamax) of ...
Wednesday, 18 March 20
DRY BULK: INDONESIAN COAL CARGOES PROVIDING A BIG BOOST IN THE EAST WHERE SENTIMENT FOR HANDIES ALSO STARTED IMPROVING - INTERMODAL
The BDI ended last week with small gains on the back of an encouraging number of cargoes out of key trading regions that helped sustain the reserve ...
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- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
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