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