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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, 03 February 17
KOMIPO INVITES BIDS FOR 1.13 MILLION TONS OF BITUMINOUS COAL FOR Q2' 17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 1,130,000 Metric Tons of Bituminous coal f ...
Friday, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
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- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- The University of Queensland
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
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