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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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Monday, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
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- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Australian Coal Association
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- White Energy Company Limited
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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