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