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