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