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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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- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
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