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