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