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