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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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Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
Sunday, 03 July 22
CHINESE VICE PREMIER STRESSES CLEAN, EFFICIENT USE OF COAL - XINHUA
Chinese Vice Premier Han Zheng has stressed efforts to promote the clean and efficient use of coal, and pursue green, low-carbon and high-quality d ...
Sunday, 03 July 22
SOVEREIGN SECTOR OUTLOOK REVISED TO NEUTRAL ON UKRAINE WAR IMPACT - FITCH RATINGS
The deterioration in global sovereign credit conditions this year relative to our expectations at end-2021 has caused Fitch Ratings to change its g ...
Saturday, 02 July 22
GLOBAL SEABORNE COAL EXPORTS IN 2021 INCREASED BY 4.4% Y-O-Y TO 1147 MLN TONNES - BANCHERO COSTA
In the full 12 months of 2021, global seaborne coal exports increased by +4.4% y-o-y to 1147 mln tonnes, from 1099 mln tonnes in 2020, according to ...
Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
India’s biggest cement producer, UltraTech Cement ULTC.NS, is importing a cargo of Russian coal and paying using Chinese yuan, according to a ...
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- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Australian Coal Association
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
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