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