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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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Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
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- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
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