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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, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Australian Coal Association
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
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