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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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Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
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- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
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