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