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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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Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
Thursday, 24 June 21
FEBRUARY'S INCREASE IN COAL-FIRED ELECTRIC GENERATION REDUCED U.S. COAL STOCKPILES - EIA
Coal stockpiles at U.S. power plants decreased significantly from December 2020 to February 2021, including a draw of nearly 16 million tons in Feb ...
Wednesday, 23 June 21
MARKET INSIGHT - INTERMODAL
The first half of 2021 has brought a very sharp and continued recovery in the dry bulk market and while many where expecting a relatively strong ma ...
Thursday, 17 June 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR GLOBAL SEABORNE COAL TRADE; CHINA'S COAL IMPORTS - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade.
Total global loadings in the 12 months of 2020 were down -12 ...
Thursday, 17 June 21
FITCH RATINGS RAISES SHORT-TERM OIL AND GAS PRICE ASSUMPTIONS
Fitch Ratings has increased its 2021 and 2022 oil price assumptions for the Brent and West Texas Intermediate (WTI) benchmarks due to stronger year ...
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- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
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