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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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Wednesday, 06 March 19
KOREA SOUTHERN POWER CO INVITES BIDS FOR 980,000 MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
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- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Australian Coal Association
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
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