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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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Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
Monday, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
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- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- The University of Queensland
- Australian Coal Association
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
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