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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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Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
Thursday, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
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- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Minerals Council of Australia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
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