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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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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 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
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