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