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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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Thursday, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
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