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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, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
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Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
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