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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, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
Wednesday, 17 June 20
KOREA SOUTHERN POWER CO INVITED 80000 MT OF LOW CALORIFIC VALUE COAL FOR AUGUST 1H, 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) Min 4,200 kcal/kg - Max. ...
Tuesday, 16 June 20
A GLOBAL ECONOMIC SLUMP: WHAT WILL IT MEAN FOR METALS AND MINING? - WOOD MACKENZIE
Back before coronavirus knocked “normal” out cold, the key issues for miners were sub-investment prices, rising requirements for ESG an ...
Tuesday, 16 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.58 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.43 points Monday, up 0.58 percent week on week.
The index, released by China ...
Tuesday, 16 June 20
HIGHER IRON ORE PRICES OFFSET CORONAVIRUS-DRIVEN PRODUCTION RISK - FITCH RATINGS
Lower iron ore production in Brazil, resulting from rising coronavirus infections, should only marginally affect the cash flow of Vale and other gl ...
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Showing 906 to 910 news of total 6871 |
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- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
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