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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, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
Tuesday, 08 March 22
THE HIGH COST OF INDONESIA’S DOWNSTREAM COAL PROJECTS IS UNDERESTIMATED - IEEFA
Three Indonesian ministries have come up with a DME purchase price of US$378/tonne fixed for 20 years compared to IEEFA’s US$601/tonne estima ...
Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While count ...
Tuesday, 22 February 22
THE DRY BULK MARKET HAS MOVED ON A POSITIVE TRACK - ALLIED
The dry bulk market has moved on a positive track as of the past couple of weeks or so. Following the typical softening in freight conditions durin ...
Tuesday, 22 February 22
CHINA'S DAILY OUTPUT OF COAL REBOUNDS TO OVER 12 MLN TONNES - REUTERS
China’s coal output returned to more than 12 million tonnes per day as of Feb. 20, the country’s state planner said on Monday, a level ...
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- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- The University of Queensland
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
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