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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, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
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