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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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Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
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- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
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