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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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Wednesday, 30 September 20
MARKET INSIGHT - INTERMODAL
Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the p ...
Tuesday, 29 September 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.73 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.91 points Monday, up 0.73 percent week on week.
The index, released by China ...
Tuesday, 29 September 20
SHIPPING MARKET - ALLIED
Here we are, just a short breath before the final quarter of the year, and many are now debating to what extent we can really expect a firm dry bul ...
Tuesday, 29 September 20
INDONESIAN COAL COMPANIES' EARNINGS TO WEAKEN IN 2H20 - FITCH RATINGS
Rated Indonesian coal miners and contractors will have weaker operating and financial performances in the second half of 2020 than in the first, sa ...
Tuesday, 29 September 20
RUSSIA'S COAL PRODUCTION TO DROP BY 10.5% IN 2020, SAYS MINISTRY - TASS
Russia’s Economic Development Ministry projects a 10.5% decrease in coal production in the country in 2020 compared with last year to 395 mln ...
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- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Parliament of New Zealand
- Planning Commission, India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- PTC India Limited - India
- Ministry of Transport, Egypt
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