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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, 09 September 20
MARKET INSIGHT - INTERMODAL
The uneventful summer lull which is coming to an end soon has left its stigma on the newbuilding market, which has already been devastated by the g ...
Saturday, 05 September 20
INDIA WON'T KICK ITS COAL HABIT SO EASILY - HINDU BUSINESS LINE
India has traditionally considered itself lucky to have been endowed with abundant coal reserves, which it has sought to use to meet its energy nee ...
Saturday, 05 September 20
FINANCING COMPLETE FOR 900MW FIFTH PHASE OF MASSIVE DUBAI SOLAR PARK: ARABIAN BUSINESS
Saudi-based ACWA Power on Thursday announced it has completed the signing of all financing agreements for the fifth phase of the Mohammed bin Rashi ...
Saturday, 05 September 20
POLISH COAL DEMAND EXPECTED TO FALL BY 7 MLN TONNES NEXT YEAR: MINISTER - REUTERS
Poland’s demand for coal is expected to fall by around 7 million tonnes next year, or more than 10% of annual hard coal production, after a d ...
Saturday, 05 September 20
PAKISTAN'S NEW 27-YEAR POWER PLAN RISKS LOCKING IN LONG-TERM OVERCAPACITY, LEAVING IMPORTED COAL AND LNG PLANTS STRANDED - IEEFA
Wind and solar, the country’s cheapest source of new generation, also overlooked
Pakistan risks locking itself into building m ...
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- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
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