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