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