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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, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
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Friday, 01 May 20
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A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
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- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
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