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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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Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
Friday, 08 May 20
THE COLLAPSE OF THE OIL AND BUNKER FUEL MARKETS IN EARLY 2020 - PETER SAND
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipp ...
Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory l ...
Thursday, 07 May 20
IEEFA UPDATE: THE OUTLOOK FOR THERMAL COAL IN SOUTHEAST ASIA AND SOUTH ASIA
Seven headwinds are building to sustained growth in coal in Asia
The medium term outlook for thermal coal in Southeast Asia is posit ...
Thursday, 07 May 20
IMO 2020: BUNKER CLAIMS HANDLING GUIDE FOR A NEW DECADE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
IMO 2020 is the term generally used to describe the following regulations under Annex VI of the International Convention ...
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- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
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