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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, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover ...
Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take ...
Thursday, 13 February 20
INDIA: MAJOR PORTS SHOW MUTED GROWTH IN CARGO AS THERMAL COAL VOLUME SLIDES 15% - BUSINESS STANDARD
A sharp slide of 15 per cent in thermal coal volumes weighed on the performance of major ports during the period of April-January of FY20. The majo ...
Wednesday, 12 February 20
REFINING SET FOR A CHALLENGING 2020 - WOOD MACKENZIE
Downstream isn’t the glamorous end of the oil business. And in Big Oil, it’s typically dwarfed by upstream. Yet having been forced to r ...
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- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
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