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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, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
Tuesday, 23 March 21
LOWER WHOLESALE PRICES PUT PRESSURE ON AUSTRALIAN ENERGY RETAILERS - FITCH RATINGS
Fitch Ratings expects the low wholesale energy prices in the Australian National Energy Market to persist through to 2022, which will affect electr ...
Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be c ...
Tuesday, 23 March 21
CHINA'S COAL OUTPUT EDGES UP IN FIRST TWO MONTHS - XINHUA
China’s raw coal output rose 25 percent year on year to 620 million tonnes in the first two months of 2021, official data showed.
...
Wednesday, 17 March 21
MARKET INSIGHT - INTERMODAL
Shipping market players are familiar with the inverse correlation between the freight market and demolition activity i.e. when the market picks up ...
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- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- MS Steel International - UAE
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- The University of Queensland
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
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