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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, 13 March 20
PANAMAX: SLIGHTLY STRONGER NUMBERS IN BOTH BASINS THIS WEEK - FEARNLEYS
Cape
Still very sad times for the big ships, and merit in further trading at present levels is highly debatable for most tonnage. Spot fixtures ...
Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
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- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- The University of Queensland
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- MS Steel International - UAE
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
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