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