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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
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