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