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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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Tuesday, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
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