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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, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
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- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- The University of Queensland
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Makarim & Taira - Indonesia
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