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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, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
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- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Planning Commission, India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
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