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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, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover ...
Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take ...
Thursday, 13 February 20
INDIA: MAJOR PORTS SHOW MUTED GROWTH IN CARGO AS THERMAL COAL VOLUME SLIDES 15% - BUSINESS STANDARD
A sharp slide of 15 per cent in thermal coal volumes weighed on the performance of major ports during the period of April-January of FY20. The majo ...
Wednesday, 12 February 20
REFINING SET FOR A CHALLENGING 2020 - WOOD MACKENZIE
Downstream isn’t the glamorous end of the oil business. And in Big Oil, it’s typically dwarfed by upstream. Yet having been forced to r ...
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- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- MS Steel International - UAE
- The University of Queensland
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
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