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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, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- The University of Queensland
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
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