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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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Thursday, 04 November 21
FASTER DECARBONISATION: BACK TO BASICS FOR THE MINING INDUSTRY? - WOOD MACKENZIE
To the uninitiated, rugby is a technical and complicated game. As young schoolboys it was all a wee bit confusing and we invariably ended up on the ...
Wednesday, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
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 ...
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- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- MS Steel International - UAE
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