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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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Friday, 30 April 21
HIGH-SULPHUR FUEL OIL SALES REBOUND AFTER PRE-IMO 2020 - BIMCO
HSFO sales are up 47.2% from Q1 2020, reaching 3.1m tonnes. This is however still less than a third of high-sulphur fuel sales in Q1 2019, before t ...
Wednesday, 28 April 21
MARKET INSIGHT - INTERMODAL
Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot pric ...
Monday, 26 April 21
CHINA TO FURTHER CUT COAL USE IN 2021 - XINHUA
China aims to reduce the share of coal in its energy mix to less than 56% this year, according to a guideline released by the National Energy Admin ...
Wednesday, 21 April 21
COAL FINANCING COSTS HAVE SURGED IN PAST 10 YEARS - UNIVERSITY OF OXFORD - THE GUARDIAN
Coal financing costs have surged over the last decade as investors demand returns four times as high as the payoff required from renewable energy p ...
Tuesday, 20 April 21
US DOLLAR LIBOR TRANSITION IN ASSET FINANCE - WHERE ARE WE NOW? - WATSON FARLEY & WILLIAMS
Since our last article, there has been a raft of regulatory and market body announcements relating to the transition away from LIBOR and the follow ...
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- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
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