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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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- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Thai Mozambique Logistica
- White Energy Company Limited
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
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