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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- PTC India Limited - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
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