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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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Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
Wednesday, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the marke ...
Wednesday, 04 December 19
INDONESIA REVIEWING RULES MANDATING COAL SALES TO LOCAL BUYERS: OFFICIAL - REUTERS
Indonesia is reviewing rules that require coal miners to sell a portion of their coal to local buyers, a government official said on Monday, as sup ...
Tuesday, 03 December 19
STABILITY AND COMPATIBILITY OF VERY LOW SULPHUR FUEL OILS - GARD
In order to meet increasing restrictions on the sulphur content in marine fuel as defined by MARPOL Annex VI Regulation 14.1.3, the characteristics ...
Monday, 02 December 19
COAL PRODUCTION IN INDIA UP BY 164.58 MT IN 5 YEARS - BUSINESS LINE
Raw coal production in the country has increased from 567.77 million tons (MT) in 2013-14 to 730.35 MT in 2018-19, Union Coal and Parliamentary Aff ...
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- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- The University of Queensland
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
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