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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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Monday, 23 September 19
CHINA RECORDS SLOWER GROWTH IN COAL PRODUCTION - XINHUA
The growth of China’s raw coal production slowed down in August, data from the National Bureau of Statistics (NBS) showed.
Aro ...
Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
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- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
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