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