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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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Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Thai Mozambique Logistica
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