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