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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, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
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