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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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Friday, 17 April 20
PANDEMIC TO BRING ASIA'S 2020 GROWTH TO HALT FOR 1ST TIME IN 60 YEARS - IMF: REUTERS
Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented ...
Friday, 17 April 20
OPEC BRACES FOR OIL MARKET'S "HISTORIC SHOCK"
OPEC released its much anticipated April monthly report.
Crude Oil Price Movements
Crude oil prices collapsed in March 2020, rec ...
Friday, 17 April 20
SAUDI ARABIA'S MAY 2020 OSPS FOR CRUDE EXPORTS BODE WELL FOR ASIAN REFINERS - WOOD MACKENZIE
On 13 April, Saudi Arabia announced the Official Selling Prices (OSPs) for its May crude oil exports. The new OSPs speak volumes about Saudi Arabia ...
Friday, 17 April 20
SEABORNE COAL PRICES UNDER PRESSURE AS DEMAND SOFTENS IN CHINA, INDIA - CLYDE RUSSELL
Worrying signs are emerging for coal exporters to the world’s biggest markets in Asia, as top buyers China and India move to favour domestic ...
Thursday, 16 April 20
THERMAL POWER SECTOR FACES BLEAK SCENARIO POST-COVID SITUATION - THE HINDU BUSINESS LINE
The centre should take a fresh look at coal-energy value chain as the sector tops the chart on loan defaults.
Covid-19 may have serv ...
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- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Marubeni Corporation - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
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