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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, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
The government is considering to shut down the aging Suralaya coal-fired power plant (PLTU) in Cilegon, Banten, and replace it with green energy, a ...
Wednesday, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
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- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
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