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