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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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Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
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- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- White Energy Company Limited
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Aditya Birla Group - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
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