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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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Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
Friday, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
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