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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, 23 August 21
CHINESE COAL PRODUCTION RISES 4.9 PCT IN 1ST 7 MONTHS OF 2021 - NBS
Official figures demonstrated that the Chinese raw coal production surged 4.9 percent annually to 2.26 billion tonnes in the January-July period of ...
Friday, 20 August 21
ARE WE LOOKING AT THE NEXT DRY BULK SUPER CYCLE? IS IT EVEN A CYCLE? - BIMCO
Throughout the first half of the year, talk of a new dry bulk super cycle has been on many lips as commodity prices have soared to multi-year highs ...
Friday, 20 August 21
BIMCO'S SHIPPING NUMBER OF THE WEEK: CHINESE IRON ORE IMPORTS FALL TO 14-MONTH LOW IN JULY - PETER SAND
Chinese iron ore imports fell to 88.5 million tonnes in July, the lowest level since May 2020. The fall in July means that accumulated imports are ...
Friday, 20 August 21
SOARING DEMAND FOR THE WORLD’S LEAST-LIKED COMMODITY SEES THERMAL COAL PRICES JUMP 106% THIS YEAR - CNBC
Soaring electricity demand, infrastructure woes and a surge in global gas prices have triggered an extraordinary rally for the world’s least ...
Friday, 20 August 21
CHINA’S IRON ORE IMPORTS CONTRACTED YEAR-ON-YEAR BY 2% IN 2018 AND GREW YEAR-ON-YEAR BY ONLY 1% IN 2019 - COMMODORE RESEARCH
Examining the last ten years of China’s crude steel output and iron ore imports shows that China’s iron ore imports have stayed r ...
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- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Petron Corporation, Philippines
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Planning Commission, India
- Bhatia International Limited - India
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