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