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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Australian Coal Association
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
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