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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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Tuesday, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
Tuesday, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K 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 ...
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- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
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