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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, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
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