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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, 30 June 22
FINANCIAL GAINS SUPPORT COAL TRANSITION - BALTIC EXCHANGE
Support for the shift away from coal dependency continues to mount, with the International Monetary Fund (IMF) calculating that the move would gene ...
Thursday, 30 June 22
WHY ARE LNG SHIPPING STOCKS RESILIENT? - DREWRY
LNG shipping stocks are proving resilient despite uncertainties about growth in global GDP, high inflation and the ongoing geopolitical crisis caus ...
Thursday, 30 June 22
SPOT AUSTRALIAN THERMAL COAL HAS SURGED, BUT CONTRACT PRICE IS KEY - REUTERS
The spot price of Australian thermal coal is higher than that of coking coal, an unprecedented situation that highlights just how the global market ...
Thursday, 30 June 22
SHANXI PROVINCE RAISES ANNUAL COAL OUTPUT TO 1.3 BILLION TONS TO ENSURE CHINA’S ENERGY SUPPLY - GLOBAL TIMES
North China’s Shanxi Province, a major coal-producing region, recently announced a move to increase its annual coal production output by 107 ...
Thursday, 30 June 22
DIVERGENCE BETWEEN HIGH- AND LOW-GRADE THERMAL COAL PRICES IN APAC TO NARROW - FITCH RATINGS
Prices between high- and low-grade thermal coal in Asia-Pacific (APAC) have diverged since late March 2022, but Fitch Ratings expects the gap to na ...
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- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
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