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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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Wednesday, 06 March 19
KOREA SOUTHERN POWER CO INVITES BIDS FOR 980,000 MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
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- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
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