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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, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a ...
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- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Australian Coal Association
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
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