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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, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- The University of Queensland
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- White Energy Company Limited
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
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