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