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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, 30 September 20
MARKET INSIGHT - INTERMODAL
Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the p ...
Tuesday, 29 September 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.73 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.91 points Monday, up 0.73 percent week on week.
The index, released by China ...
Tuesday, 29 September 20
SHIPPING MARKET - ALLIED
Here we are, just a short breath before the final quarter of the year, and many are now debating to what extent we can really expect a firm dry bul ...
Tuesday, 29 September 20
INDONESIAN COAL COMPANIES' EARNINGS TO WEAKEN IN 2H20 - FITCH RATINGS
Rated Indonesian coal miners and contractors will have weaker operating and financial performances in the second half of 2020 than in the first, sa ...
Tuesday, 29 September 20
RUSSIA'S COAL PRODUCTION TO DROP BY 10.5% IN 2020, SAYS MINISTRY - TASS
Russia’s Economic Development Ministry projects a 10.5% decrease in coal production in the country in 2020 compared with last year to 395 mln ...
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- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
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