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