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