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