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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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Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
Sunday, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
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