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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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Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
Saturday, 25 April 20
KOREA SOUTH-EAST POWER CO. INVITED BIDS FOR 780K - 900K MT OF 5600 NCV COAL FOR JULY TO OCTOBER 2020 LOADING
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 780,000~900,000 Metric Tons (MT) s ...
Saturday, 25 April 20
SEAFARER MENTAL WELLBEING DURING THE COVID-19 PANDEMIC - STANDARD CLUB
KNOWLEDGE TO ELEVATE
COVID-19 has forced many parts of the world to enforce a lockdown in a bid to flatten the curve in terms of transmissions ...
Friday, 24 April 20
KOMIPO INVITED BIDS FOR 5700 NAR COAL FOR JUNE & JULY LOADING
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) Has Issued An International Tender For 260,000 Metric Tons (MT) Steam Coal ...
Friday, 24 April 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Australian Coal Association
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- The University of Queensland
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
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