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