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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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Wednesday, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
Wednesday, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
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- Planning Commission, India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
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