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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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Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
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- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
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