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