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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, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
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Saturday, 01 February 20
COAL IS NOT GOING ANYWHERE - MINING REVIEW
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Saturday, 01 February 20
CIL PRODUCTION TO NOT EXCEED 640 MILLION TON IN FY20: OFFICIAL - PTI
Hit by disruptions due to a prolonged monsoon, mining major Coal India Ltd’s production in the current fiscal will not exceed 640 million ton ...
Saturday, 01 February 20
WHO PAYS FOR IMO 2020? - FREIGHT WAVES
The United Nations’ International Maritime Organization (IMO) implemented its low-sulfur fuel mandate on January 1, 2020. Full enforcement be ...
Friday, 31 January 20
EIA EXPECTS U.S. ELECTRICITY GENERATION FROM RENEWABLES TO SOON SURPASS NUCLEAR AND COAL
In the latest long-term projections, the U.S Energy Information Administration (EIA) projects electricity generation from renewable sources such as ...
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- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
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