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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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Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
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