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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, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
Tuesday, 27 March 18
SHIPPING MARKET ANALYSIS - GERRY LATHROP
With the almost complete phase out of Tier II new-building slots on our door step, along with the plethora of emissions related articles seemingly ...
Friday, 23 March 18
RIO TINTO AGREES SALE OF HAIL CREEK AND VALERIA TO GLENCORE FOR $1.7 BILLION
Press Release: Rio Tinto has entered into a binding agreement with Glencore for the sale of its entire interests in the Hail Creek coal mine and th ...
Wednesday, 21 March 18
CHINA'S RAW COAL OUTPUT UP IN 2017, FIRST GROWTH SINCE 2014 - XINHUA
China’s raw coal output rose in 2017 due to rebounding demand and high-quality capacity, according to the National Bureau of Statistics (NBS) ...
Wednesday, 21 March 18
MARKET INSIGHT - CHRISTOPHER T. WHITTY
President’s Trump administration proposed tariffs on steel and aluminum imports in an attempt to target China and Europe among others. Earlie ...
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- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- The University of Queensland
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Planning Commission, India
- India Bulls Power Limited - India
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