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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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Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
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- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Australian Coal Association
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
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