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