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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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Wednesday, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
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- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
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