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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, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
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