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