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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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Thursday, 04 November 21
FASTER DECARBONISATION: BACK TO BASICS FOR THE MINING INDUSTRY? - WOOD MACKENZIE
To the uninitiated, rugby is a technical and complicated game. As young schoolboys it was all a wee bit confusing and we invariably ended up on the ...
Wednesday, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
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- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
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