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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, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
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- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
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