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