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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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- Minerals Council of Australia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
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