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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, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
Wednesday, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
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- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
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