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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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Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
Monday, 14 October 19
WINTER OIL MARKET OUTLOOK - OPEC
Product markets in the last two months have benefitted from seasonal maintenance which have led to a tighter product market environment, providing ...
Sunday, 13 October 19
INDONESIA: PANAMAX VESSELS OPEN SOUTH CHINA WERE REPORTEDLY FIXED AT $14,000 LEVEL, WITH REDELIVERY BACK IN CHINA - BALTIC BRIEFING
Capesize
The Capesize market managed to find a floor and rally a little this week after several weeks of declines. While the West Australia to ...
Friday, 11 October 19
INDIAN MINERS REJECT PLAN TO LINK NATIONAL COAL INDEX TO FOREIGN PRICES - REUTERS
India’s miners are rejecting a government proposal to establish a national coal index that would be linked to international prices, documents ...
Friday, 11 October 19
THE OCTOBER BENCHMARK PRICE OF INDONESIAN THERMAL COAL DECLINES TO LOWEST SINCE OCTOBER 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
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