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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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Monday, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a ...
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- Bhatia International Limited - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Planning Commission, India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Economic Council, Georgia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
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