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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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Friday, 26 November 21
CHINA FINDS COMPLIANCE PROBLEMS IN COAL PRICE INDEX PROBE - REUTERS
China’s state planner on Wednesday said it had discovered some “noncompliant” behaviour among coal price index providers as it an ...
Thursday, 25 November 21
SE ASIA POWER DEMAND TO RISE AS STATE SUPPORT MITIGATES COVID-19 IMPACT - FITCH RATINGS
Electricity demand in south-east Asia is likely to increase in 2021, following slow growth or contraction in 2020, thanks to state support that has ...
Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to glob ...
Thursday, 25 November 21
CHINA'S COAL PRICE DROPS IN MID-NOVEMBER AMID GOVERNMENT’S SWEEPING MEASURES - GLOBAL TIMES
China’s coal prices have dropped significantly in mid-November compared with the beginning of the month, with the price of coking coal and co ...
Wednesday, 24 November 21
MARKET INSIGHT - INTERMODAL
Inflation is the word that has dominated the meetings of foreign leaders and finance ministers in recent weeks, as rising energy costs, supply chai ...
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- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
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