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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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Saturday, 28 March 20
ASIA'S COAL MARKETS DIVERGE ON QUALITY LINES AS CORONAVIRUS HITS INDIA - REUTERS
Asia’s seaborne coal market is increasingly diverging between higher-quality Australian coal, where prices are holding up despite the economi ...
Friday, 27 March 20
CHINA'S BULKS: THE SENTIMENT GAP BETWEEN STEEL AND COAL WIDENS - WOOD MACKENZIE
China seems to be containing its local coronavirus situation, with imported cases now posing the greater threat. While quarantine measures remain t ...
Friday, 27 March 20
S.KOREA Q1 THERMAL COAL IMPORTS SET FOR 10-YR LOW ON ANTI-POLLUTION MEASURES - REUTERS
South Korea’s first-quarter thermal coal imports are set to fall to a decade-low due to stricter air pollution measures, while the coronaviru ...
Friday, 27 March 20
PORT OF NEWCASTLE OPERATIONS CONTINUE WITH COVID-19 RESPONSE MEASURES IN PLACE
Port of Newcastle, like many organisations, is taking a precautionary approach to help manage COVID-19 risks in the community. Our focus is on ensu ...
Thursday, 26 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- MS Steel International - UAE
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
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