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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, 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 ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
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- Thai Mozambique Logistica
- Bhatia International Limited - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
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