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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, 07 July 22
COAL INDIA'S PRODUCTION SETS RECORD INCREASE OF 29% YOY AT 36 MT IN Q1FY23 - IIFL SECURITIES
Coal India Limited (CIL) has ended April-June quarter FY’23 capping a historic high of 29% yoy output growth, compared to same quarter FY&rsq ...
Wednesday, 06 July 22
MARKET INSIGHT - INTERMODAL
Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022, there has been a meaningful resurgence of discussions within the ship ...
Tuesday, 05 July 22
WHY ARE VLSFO PRICES SO HIGH, ESPECIALLY IN SINGAPORE? - STEVE CHRISTY, INTEGR8 FUELS
Tightness in products still trumps talks of recession
Last month we wrote about the fears of recession versus the tightness in product markets ...
Tuesday, 05 July 22
ADANI ENTERPRISES LOWEST BIDDER IN COAL INDIA'S IMPORT TENDER: REPORT - BUSINESS STANDARD
Coal India Ltd floated its first import tender on behalf of power companies, where Adani Enterprises Ltd came out to be the lowest bidder, a report ...
Tuesday, 05 July 22
CHINA POLICY KEY FOR IRON ORE OUTLOOK - ING
China’s covid lockdowns and recessionary risks hit iron ore
Iron ore prices have fallen significantly from their year-to-date high of US$ ...
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- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
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