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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, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
Monday, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
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- Xindia Steels Limited - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- VISA Power Limited - India
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