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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Planning Commission, India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
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