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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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- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- VISA Power Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Thai Mozambique Logistica
- The University of Queensland
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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