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