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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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Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
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- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
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