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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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- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
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