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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, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
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Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Anglo American - United Kingdom
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