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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, 18 May 20
TAKING ADVANTAGE OF VIRUS DISTRACTION - BALTIC EXCHANGE
As the industry grapples to deal with exceptional Covid-19-related challenges, a deeper threat is coming to the fore. At this time of crisis, more ...
Monday, 18 May 20
THERMAL COAL SPOT PRICE TUMBLES 25 PER CENT, PUTTING PRESSURE ON SOME PRODUCERS - ABC RURAL
The spot price for thermal coal has fallen 25 per cent per cent in the past month with one leading analyst saying it is because of a reduction in d ...
Monday, 18 May 20
CHINA'S COAL OUTPUT UP 1.3 PCT IN JANUARY-APRIL: XINHUA
Output of raw coal in China rose 1.3 percent year on year to 1.15 billion tonnes in the first four months this year, official data showed.
&nbs ...
Sunday, 17 May 20
A 55,000 OPEN ILIGAN FIXING AT $6,500 VIA INDONESIA REDELIVERY INDIA - BALTIC BRIEFING
Capesize
A precipitous fall in the market this week had the Capesize 5TC shedding over 50 per cent in value. A small rebound at the end of the ...
Friday, 15 May 20
CHINA'S COAL CONSUMPTION TO FALL Y/Y IN SECOND QUARTER, IMPROVEMENT EXPECTED IN SECOND HALF - INDUSTRY BODY: REUTERS
China’s coal consumption is expected to decline in the second quarter from a year earlier, but will see an improvement in the second half of ...
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- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Planning Commission, India
- Australian Coal Association
- Bhatia International Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
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