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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, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
Monday, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
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- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
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