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