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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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Tuesday, 19 July 22
SEEING RED? - WOOD MACKENZIE
What a Republican mid-term victory could mean for US energy and climate policy
According to current polling the Republican Party has ...
Thursday, 14 July 22
INDIA'S COAL IMPORTS HIT RECORD HIGH IN JUNE - REUTERS
India's coal imports hit a record high in June despite high global prices, data from three trade sources and Refinitiv ship tracking showed, as ...
Thursday, 14 July 22
CHINA'S JUNE COAL IMPORTS SLUMP AS TRADERS SHUN EXPENSIVE OVERSEAS CARGOES - REUTERS
China’s coal imports fell 33% in June from a year ago, with traders turning down expensive overseas cargoes in favor of domestic ones with ca ...
Wednesday, 13 July 22
KOWEPO TO IMPORT 2.79 MILLION TONS OF LOW TO MEDIUM COAL
COALspot.com: Korea Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1360k MT of Min.4400 kcal/kg NCV coal and Total 1 ...
Wednesday, 13 July 22
HAVE MINERS MISSED THE BOAT TO INVEST AND GET AHEAD OF THE ENERGY TRANSITION? - WOOD MACKENZIE
Miners are in rude health, benefiting from economic stimuli, the post-pandemic recovery and associated supply constraints. Initially the Ukraine wa ...
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- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- The University of Queensland
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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