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