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