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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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Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
Friday, 08 May 20
THE COLLAPSE OF THE OIL AND BUNKER FUEL MARKETS IN EARLY 2020 - PETER SAND
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipp ...
Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory l ...
Thursday, 07 May 20
IEEFA UPDATE: THE OUTLOOK FOR THERMAL COAL IN SOUTHEAST ASIA AND SOUTH ASIA
Seven headwinds are building to sustained growth in coal in Asia
The medium term outlook for thermal coal in Southeast Asia is posit ...
Thursday, 07 May 20
IMO 2020: BUNKER CLAIMS HANDLING GUIDE FOR A NEW DECADE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
IMO 2020 is the term generally used to describe the following regulations under Annex VI of the International Convention ...
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- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Australian Coal Association
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