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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, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
Wednesday, 25 March 20
MARKET INSIGHT - INTERMODAL
There is no doubt that the Covid-19 pandemic crisis is a world-shattering event that will change the world as we know it. Societies are facing chal ...
Wednesday, 25 March 20
INDONESIA TO CANCEL RULES REQUIRING DOMESTIC SHIPS FOR COAL, PALM EXPORTS : REFINITIV
Indonesia's government will revoke rules requiring exporters of coal and palm oil to use domestic shipping companies for shipments, Coordinatin ...
Wednesday, 25 March 20
JAN-FEB 2020, INDONESIA SHIPPED 64.5 MLN TONNES OF COAL, UP +3.4% YOY - BANCHERO COSTA
In the 12 months of calendar 2019, Indonesia exported 386.4 mln tonnes of coal, according to vessel tracking data from Refinitiv. This represents a ...
Tuesday, 24 March 20
MARKET ANALYSIS - ALLIED
As countries around the world struggle to take back control of the ongoing COVID-19 pandemic the global economy shuts down bit by bit, leaving only ...
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- Minerals Council of Australia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Planning Commission, India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- London Commodity Brokers - England
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- The University of Queensland
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
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