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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, 03 February 17
KOMIPO INVITES BIDS FOR 1.13 MILLION TONS OF BITUMINOUS COAL FOR Q2' 17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 1,130,000 Metric Tons of Bituminous coal f ...
Friday, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
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- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- The University of Queensland
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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