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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, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher price ...
Saturday, 06 August 22
GERMANY'S ENERGY U-TURN: COAL INSTEAD OF GAS - DEUTSCHE WELLE
Berlin has realized it will never again import as much energy from Russia as before the Ukraine war. So the challenge is to wean Germany off its de ...
Saturday, 30 July 22
NUANCES OF FORCE MAJEURE CLAUSE - BALTIC EXCHANGE
Knowledge to Elevate
In NKD Maritime Limited v. Bart Maritime (No 2) Inc (Shagang Giant) [2022] EWHC 1615 (Comm), Bart Maritime (No 2) Inc (th ...
Saturday, 30 July 22
AEMO URGES QUICKER SHIFT TO RENEWABLES AMID COAL FAILURES AND SOARING FOSSIL FUEL COSTS
The Australian Energy Market Operator has called for an accelerated shift to wind and solar, backed up by batteries and other storage, as a devasta ...
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- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
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