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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, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
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- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
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