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