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