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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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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
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