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