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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, 13 March 20
PANAMAX: SLIGHTLY STRONGER NUMBERS IN BOTH BASINS THIS WEEK - FEARNLEYS
Cape
Still very sad times for the big ships, and merit in further trading at present levels is highly debatable for most tonnage. Spot fixtures ...
Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
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- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Central Java Power - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
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