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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, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
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- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
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