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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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Thursday, 07 July 22
COAL INDIA'S PRODUCTION SETS RECORD INCREASE OF 29% YOY AT 36 MT IN Q1FY23 - IIFL SECURITIES
Coal India Limited (CIL) has ended April-June quarter FY’23 capping a historic high of 29% yoy output growth, compared to same quarter FY&rsq ...
Wednesday, 06 July 22
MARKET INSIGHT - INTERMODAL
Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022, there has been a meaningful resurgence of discussions within the ship ...
Tuesday, 05 July 22
WHY ARE VLSFO PRICES SO HIGH, ESPECIALLY IN SINGAPORE? - STEVE CHRISTY, INTEGR8 FUELS
Tightness in products still trumps talks of recession
Last month we wrote about the fears of recession versus the tightness in product markets ...
Tuesday, 05 July 22
ADANI ENTERPRISES LOWEST BIDDER IN COAL INDIA'S IMPORT TENDER: REPORT - BUSINESS STANDARD
Coal India Ltd floated its first import tender on behalf of power companies, where Adani Enterprises Ltd came out to be the lowest bidder, a report ...
Tuesday, 05 July 22
CHINA POLICY KEY FOR IRON ORE OUTLOOK - ING
China’s covid lockdowns and recessionary risks hit iron ore
Iron ore prices have fallen significantly from their year-to-date high of US$ ...
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- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
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