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