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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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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
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