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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, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
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- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
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