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