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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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Thursday, 14 May 20
OPEC REVISES DOWN GLOBAL OIL DEMAND FORECAST AGAIN
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Thursday, 14 May 20
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Wednesday, 13 May 20
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Tuesday, 12 May 20
IN THE FIRST 4 MONTHS OF 2020, SOUTH KOREA IMPORTED 46.6 MLN TONNES OF CRUDE OIL BY SEA, A NET DECLINE OF 14.1% YOY - BC
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Tuesday, 12 May 20
OIL MARKET TURBULENCE PIVOTS FOCUS ON FLOATING STORAGE TECHNICAL NEEDS - LLOYD'S REGISTER
KNOWLEDGE TO ELEVATE
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- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- The University of Queensland
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Planning Commission, India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
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