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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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Tuesday, 07 July 20
WHAT DOES THE PATHWAY TO A NET-ZERO ECONOMY LOOK LIKE FOR MINERS? - WOOD MACKENZIE
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Monday, 06 July 20
INDONESIAN COAL PRICE REFERENCE IN FREE FALL
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Monday, 06 July 20
SUPRAMAX: A 58,000-DWT FIXING DELIVERY VIETNAM TRIP VIA INDONESIA RE-DELIVERY WEST INDIA IN THE LOW $4,000S
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Thursday, 02 July 20
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Wednesday, 01 July 20
THERMAL COAL OPTIONS TRADING LAUNCHED IN CHINA'S ZHENGZHOU - XINHUA
Thermal coal options started trading on the Zhengzhou Commodity Exchange (ZCE) in central China’s Henan Province Tuesday.
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- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
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