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