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