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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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Saturday, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
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Saturday, 01 February 20
COAL IS NOT GOING ANYWHERE - MINING REVIEW
The coal sector is living under the constant threat of being blamed by environmentalists as being responsible for a world disaster called global wa ...
Saturday, 01 February 20
CIL PRODUCTION TO NOT EXCEED 640 MILLION TON IN FY20: OFFICIAL - PTI
Hit by disruptions due to a prolonged monsoon, mining major Coal India Ltd’s production in the current fiscal will not exceed 640 million ton ...
Saturday, 01 February 20
WHO PAYS FOR IMO 2020? - FREIGHT WAVES
The United Nations’ International Maritime Organization (IMO) implemented its low-sulfur fuel mandate on January 1, 2020. Full enforcement be ...
Friday, 31 January 20
EIA EXPECTS U.S. ELECTRICITY GENERATION FROM RENEWABLES TO SOON SURPASS NUCLEAR AND COAL
In the latest long-term projections, the U.S Energy Information Administration (EIA) projects electricity generation from renewable sources such as ...
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- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Planning Commission, India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
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