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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, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Wood Mackenzie - Singapore
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- The University of Queensland
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Planning Commission, India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
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