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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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Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
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Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
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Showing 16 to 20 news of total 6843 |
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- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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