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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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Friday, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
Friday, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the f ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
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- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
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