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