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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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Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Wednesday, 06 July 16
MARKET INSIGHT - VASSILIS VASSILIOU
After a fairly silent first half of the year in the ship repair sector, we have finally a harmonized workload in the shipyards around the world. Ma ...
Tuesday, 05 July 16
DRY BULK SHIPPING'S RECOVERY NOT SEEN UNTIL 2018 - SGX
SGX freight derivative volumes totaled 36,542 contracts in June (-28% m/m; +52% y/y), while open interest averaged 121,189 contracts during the mon ...
Tuesday, 05 July 16
SPOT COAL INDEXES FOR INDONESIAN COAL CONTINUE TO HOLD FIRM - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.83 percent week over week to averaging $39.98 per ton this past week, sh ...
Monday, 04 July 16
INDONESIA COAL PRICE REFERENCE CLIMBED 2.30% IN JULY
COALspot.com: The Indonesia Coal Benchmark Price increased in July 2016.
The Director General of Mineral and Coal of Indonesia, the r ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- The University of Queensland
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
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