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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, 10 September 20
U.S. COAL PRODUCTION IN 2020 TO BE 511 MMST, 28 PER CENT LOWER THAN IN 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 511 million short tons (MMst), 194 MMst (28%) lower than in 2019. Mitigation efforts related t ...
Thursday, 10 September 20
DRY BULK SHIPPING: CHINA'S DEMAND KEEPING THE DRY BULK MARKET GOING - PETER SAND | BIMCO
Overview
An impressive recovery in Chinese dry bulk imports has protected the industry from the effects of falling demand in the rest of the wo ...
Thursday, 10 September 20
TANKER SHIPPING: FREIGHT RATES BACK AT LOSS-MAKING LEVELS AFTER 12 VERY PROFITABLE MONTHS - BIMCO
Overview
A stunningly strong 12 months for the tanker shipping industry is now being replaced by lower freight rates, as lower oil product ...
Thursday, 10 September 20
INDIA'S COAL IMPORTS STUMBLE IN AUGUST, RAISING RISK OF SLOW RECOVERY - REFINITIV | BANCHERO COSTA
After posting a mild recovery in July, India's coal imports have stumbled in August as the South Asian nation battles to restart it ...
Thursday, 10 September 20
THE FIRST 8 MONTHS OF 2020, INDONESIA EXPORTED 217.4 MLN TONNES OF COAL BASED ON REFINITIV - BANCHERO COSTA
The coal market has been hit by a weaker global economy as a result of COVID-19 pandemic and falling industrial electricity demand ...
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- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
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