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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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Thursday, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd ...
Thursday, 19 March 20
BIMCO REVISES 2020 FORECAST FOR MAIN SHIPPING MARKETS
The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the fu ...
Thursday, 19 March 20
U.S. COAL EXPORTS DECLINED IN 2019 - EIA
In 2019, U.S. coal exports declined to 93 million short tons (MMst), a 20% decrease from the previous year, according to the U.S. Energy Informatio ...
Thursday, 19 March 20
SOUTH KOREA'S KOSPO INVITED BIDS FOR MIN 3,700 OR MIN 4,200 NCV LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO), has issued an international tender for total 160,000 MT (±10%) (80,000 x 2 Panamax) of ...
Wednesday, 18 March 20
DRY BULK: INDONESIAN COAL CARGOES PROVIDING A BIG BOOST IN THE EAST WHERE SENTIMENT FOR HANDIES ALSO STARTED IMPROVING - INTERMODAL
The BDI ended last week with small gains on the back of an encouraging number of cargoes out of key trading regions that helped sustain the reserve ...
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- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
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