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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, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
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- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
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