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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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Monday, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
Monday, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
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 ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
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- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Parliament of New Zealand
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
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