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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, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
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