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