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