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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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Wednesday, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
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- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Australian Coal Association
- White Energy Company Limited
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
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