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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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Friday, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
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