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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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Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
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- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
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