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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, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
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