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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 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
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- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- VISA Power Limited - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- The University of Queensland
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
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