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