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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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Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
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- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Australian Coal Association
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
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