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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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Friday, 30 April 21
HIGH-SULPHUR FUEL OIL SALES REBOUND AFTER PRE-IMO 2020 - BIMCO
HSFO sales are up 47.2% from Q1 2020, reaching 3.1m tonnes. This is however still less than a third of high-sulphur fuel sales in Q1 2019, before t ...
Wednesday, 28 April 21
MARKET INSIGHT - INTERMODAL
Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot pric ...
Monday, 26 April 21
CHINA TO FURTHER CUT COAL USE IN 2021 - XINHUA
China aims to reduce the share of coal in its energy mix to less than 56% this year, according to a guideline released by the National Energy Admin ...
Wednesday, 21 April 21
COAL FINANCING COSTS HAVE SURGED IN PAST 10 YEARS - UNIVERSITY OF OXFORD - THE GUARDIAN
Coal financing costs have surged over the last decade as investors demand returns four times as high as the payoff required from renewable energy p ...
Tuesday, 20 April 21
US DOLLAR LIBOR TRANSITION IN ASSET FINANCE - WHERE ARE WE NOW? - WATSON FARLEY & WILLIAMS
Since our last article, there has been a raft of regulatory and market body announcements relating to the transition away from LIBOR and the follow ...
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- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
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