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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, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
Tuesday, 27 March 18
SHIPPING MARKET ANALYSIS - GERRY LATHROP
With the almost complete phase out of Tier II new-building slots on our door step, along with the plethora of emissions related articles seemingly ...
Friday, 23 March 18
RIO TINTO AGREES SALE OF HAIL CREEK AND VALERIA TO GLENCORE FOR $1.7 BILLION
Press Release: Rio Tinto has entered into a binding agreement with Glencore for the sale of its entire interests in the Hail Creek coal mine and th ...
Wednesday, 21 March 18
CHINA'S RAW COAL OUTPUT UP IN 2017, FIRST GROWTH SINCE 2014 - XINHUA
China’s raw coal output rose in 2017 due to rebounding demand and high-quality capacity, according to the National Bureau of Statistics (NBS) ...
Wednesday, 21 March 18
MARKET INSIGHT - CHRISTOPHER T. WHITTY
President’s Trump administration proposed tariffs on steel and aluminum imports in an attempt to target China and Europe among others. Earlie ...
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- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
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