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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, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
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