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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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Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
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- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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