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