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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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Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
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Tuesday, 29 December 20
CHINA COKING COAL FUTURES RISE FOR THIRD DAY ON SUPPLY WORRIES - REUTERS
Chinese coking coal futures extended gains into a third session on Monday, jumping as much as 6.2% as lower imports, sliding inventories and mines ...
Wednesday, 23 December 20
COKING COAL'S DECLINE LIKELY TO FOLLOW THE PATH OF THERMAL COAL’S PROGRESSIVE DEMISE - IEEFA
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Wednesday, 23 December 20
MARKET INSIGHT - INTERMODAL
As we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to brea ...
Tuesday, 22 December 20
2021 DRY BULK OUTLOOK - SUPPLY GROWTH - TORVALD KLAVENESS
In the first article in the series we mentioned that dry bulk freight was in a super cycle between 2001 and 2008. The growth in global yard capacit ...
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- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
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