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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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Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
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Tuesday, 29 December 20
CHINA COKING COAL FUTURES RISE FOR THIRD DAY ON SUPPLY WORRIES - REUTERS
Chinese coking coal futures extended gains into a third session on Monday, jumping as much as 6.2% as lower imports, sliding inventories and mines ...
Wednesday, 23 December 20
COKING COAL'S DECLINE LIKELY TO FOLLOW THE PATH OF THERMAL COAL’S PROGRESSIVE DEMISE - IEEFA
Technology disruption the likely theme of global energy markets in 2021
There has been a growing tsunami of climate commitment annou ...
Wednesday, 23 December 20
MARKET INSIGHT - INTERMODAL
As we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to brea ...
Tuesday, 22 December 20
2021 DRY BULK OUTLOOK - SUPPLY GROWTH - TORVALD KLAVENESS
In the first article in the series we mentioned that dry bulk freight was in a super cycle between 2001 and 2008. The growth in global yard capacit ...
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- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Posco Energy - South Korea
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
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