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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, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
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- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
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