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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, 08 April 19
CHEAP COAL SWELLS IN SOUTHEAST ASIA, FOILING GLOBAL GREEN PUSH - NIKKEI
Southeast Asian countries are turning to low-cost coal to satisfy their surging electricity demand as the West shies away from the fossil fuel unde ...
Monday, 08 April 19
SULPHUR 2020 - COUNTDOWN TO THE SWITCHOVER - LLOYD'S REGISTER
Sulphur 2020 (MARPOL Annex VI Reg. 14.1.3) is still dominating headlines and as we draw closer to the 1 January 2020 deadline it’s clear that ...
Monday, 08 April 19
INDONESIAN COAL PRICE REFERENCE PRICE PLUMMETS TO LOW NOT SEEN SINCE AUGUST 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Sunday, 07 April 19
SHIP PASSAGE PLANS - NO ROOM FOR ERROR! - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The English High Court’s judgment in Alize 1954 v Allianz Elementar Versicherungs AG (The CMA CGM Libra) is an impo ...
Sunday, 07 April 19
IMO 2020: READY OR NOT? - WOOD MACKENZIE
New Year’s Day 2020 is firmly marked in the calendar as the refining and shipping industries prepare for change.
The International Marit ...
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- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
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