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