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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, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
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- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
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