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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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Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
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