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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, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
Wednesday, 25 March 15
MARKET INSIGHT: TANKER CHARTERING - KATERINA RESTIS
The 1st of January 2015, as broadly reported, denoted the beginning date of new and progressive emission regulations for vessels operating within t ...
Wednesday, 25 March 15
AUSTRALIA SET TO ONCE AGAIN BE THE WORLD'S LARGEST COAL EXPORTER - COAL, MINERALS COUNCIL OF AUSTRALIA
Greg Evans, Executive Director - Coal, Minerals Council of Australia
Media Release: The latest Resources and Energy Quarterly published by the ...
Wednesday, 25 March 15
AUSTRALIA UPSTREAM ENERGY FIRMS FACE RISING OIL PRICE EXPOSURE - FITCH
Fitch Ratings says the Australian oil and gas companies involved in exploration and production face higher exposure to oil price-linked revenues, w ...
Wednesday, 25 March 15
2014 : UK COAL IMPORTS DECLINED 17%; GERMANY COAL IMPORTS UP 6%
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
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- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Planning Commission, India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
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