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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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Friday, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
Friday, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the f ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
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- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
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