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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, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
Monday, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
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- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
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