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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, 30 June 22
FINANCIAL GAINS SUPPORT COAL TRANSITION - BALTIC EXCHANGE
Support for the shift away from coal dependency continues to mount, with the International Monetary Fund (IMF) calculating that the move would gene ...
Thursday, 30 June 22
WHY ARE LNG SHIPPING STOCKS RESILIENT? - DREWRY
LNG shipping stocks are proving resilient despite uncertainties about growth in global GDP, high inflation and the ongoing geopolitical crisis caus ...
Thursday, 30 June 22
SPOT AUSTRALIAN THERMAL COAL HAS SURGED, BUT CONTRACT PRICE IS KEY - REUTERS
The spot price of Australian thermal coal is higher than that of coking coal, an unprecedented situation that highlights just how the global market ...
Thursday, 30 June 22
SHANXI PROVINCE RAISES ANNUAL COAL OUTPUT TO 1.3 BILLION TONS TO ENSURE CHINA’S ENERGY SUPPLY - GLOBAL TIMES
North China’s Shanxi Province, a major coal-producing region, recently announced a move to increase its annual coal production output by 107 ...
Thursday, 30 June 22
DIVERGENCE BETWEEN HIGH- AND LOW-GRADE THERMAL COAL PRICES IN APAC TO NARROW - FITCH RATINGS
Prices between high- and low-grade thermal coal in Asia-Pacific (APAC) have diverged since late March 2022, but Fitch Ratings expects the gap to na ...
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- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- The University of Queensland
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