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