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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, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
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- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- ASAPP Information Group - India
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