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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, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
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- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Parliament of New Zealand
- VISA Power Limited - India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
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