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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, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
Wednesday, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
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- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Australian Coal Association
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- PTC India Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
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