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