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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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Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per da ...
Friday, 22 July 22
MARKET INSIGHT - INTERMODAL
Faced with uncertainty regarding the most cost-efficient alternative fuels and the future dominant method to reduce their greenhouse emissions, man ...
Friday, 22 July 22
YANCOAL AUSTRALIA CUTS 2022 COAL OUTPUT VIEW AS FLOODS, COVID BITE - REUTERS
Coal miner Yancoal Australia Ltd YAL.AX cut its 2022 output forecast on Wednesday, signalling a hit from higher-than-expected rainfall, COVID-19-le ...
Wednesday, 20 July 22
BOOST FOR BIOFUELS AS IMO REMOVES REGULATORY HURDLE - GARD
MARPOL Annex VI regulations were written for petroleum derived fuels but also apply to biofuels. It has been a challenge to meet the regulatory req ...
Wednesday, 20 July 22
INDONESIA’S COAL EXPORTS TO THE EU INCREASED SIGNIFICANTLY RECENTLY
European countries have increased coal imports from Indonesia due to the energy crisis that hit the region after Russia cuts gas exports to Europe. ...
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- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- The University of Queensland
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Australian Coal Association
- Siam City Cement - Thailand
- CNBM International Corporation - China
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