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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, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
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- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Economic Council, Georgia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
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