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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, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
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- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
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