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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, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- The University of Queensland
- SMC Global Power, Philippines
- VISA Power Limited - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
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