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