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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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Wednesday, 04 March 20
MARKET INSIGHT - INTERMODAL
As it was expected, the whole world has been focusing on the spread of the Coronavirus, with the fast outbreak being primarily a massive humanitari ...
Wednesday, 04 March 20
CORONAVIRUS: A WILDCARD FOR BULKS DEMAND - WOOD MACKENZIE
The coronavirus is casting a shadow across commodity markets. It has undermined China’s economic sentiment, putting the country’s growt ...
Wednesday, 04 March 20
THERMAL COAL TO 'PHASE OUT', STRONG DEMAND FOR COKING COAL: PLATO - SYDNEY MORNING HERALD
Plato Investments managing director Don Hamson says Australian iron ore producers are set to benefit in the fallout from coronavirus as China will ...
Wednesday, 04 March 20
CHINA PROVINCE TO CLOSE 10 MLN TONNES OF COAL CAPACITY IN 2020 - XINHUA
Southwest China’s Guizhou Province plans to phase out 10 million tonnes of outdated coal production capacity by closing 80 coal mines in 2020 ...
Wednesday, 04 March 20
UKRAINE PRODUCED OVER 2.55 MLN TONNES OF COAL IN FEBRUARY - UKRINFORM
In February 2020, Ukraine produced over 2.55 million tonnes of coal, which is 0.2% less than planned.
The Coal Miners Union of Ukrai ...
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- Coalindo Energy - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
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