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Sunday, 30 January 22
AIR PRODUCTS' COAL GASIFICATION PROPOSAL TRIGGERS LOOMING POLICY DISPUTES IN INDONESIA - IEEFA
 Plan to substitute Indonesia’s LPG imports with dimethyl ether may be hard to realize due to conflicting business interests
Indonesia): Air Products & Chemicals and the Indonesian government’s deal on coal gasification projects has triggered a looming policy conflict because it may be impossible to meet the business interests of all parties, according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA).
Air Products, a U.S.-based industrial gas company, recently signed additional memoranda of understandings reportedly worth US$15 billion for coal gasification projects in Indonesia. Two of the gasification plants would be used to create dimethyl ether (DME) as a substitute for Indonesia’s domestic liquefied petroleum gas (LPG) imports.
“Many optimistic statements have been made about Air Products’ downstream coal plan in Indonesia,” says Ghee Peh, an IEEFA energy analyst and the report’s author. “But it may be hard for all of the parties involved to realize their dreams.”
The report focuses on a previously announced $2.1 billion project to build a DME plant in Sumatra (which was the subject of a November 2020 IEEFA report). All parties—coal supplier Tambang Batubara Bukit Asam (PTBA), DME plant operator Air Products, and DME offtaker Pertamina—are unlikely to achieve their objectives at the same time. It would require a scenario that includes reduced stranded asset risks, low-risk fixed returns to pay for the DME plant, and selling DME for a profit.
Air Products’ business model is to cut out commodity price risks, effectively insulating returns. PTBA’s DME project could make this low-risk business model difficult to implement, and the conflict could be passed on to the off-taker, Pertamina.
A higher DME purchase price would mean a government subsidy for Pertamina so that the DME can be sold at an affordable price for Indonesian households.
Further compounding the economic unviability of the proposed projects is the difficulty in calculating DME prices, because coal, LPG and oil prices all move in the same direction.
“Over the last 20 years, the DME price has been cheaper than LPG for 15 months, or about 6% of the period, on an ‘apples to apples’ basis,” says Peh.
IEEFA’s report suggests that a government subsidy similar to the current LPG subsidy from Indonesia’s Ministry of Finance is necessary for DME because of its high production cost of US$601/tonne, which includes a 15% DME production margin for Air Products.
“From the government’s point of view, the savings only work when the LPG price is above a certain level—about US$858/tonne,” says Peh. “Since this has only happened for 6% of the last 20 years, the DME project in its current form would not be able to justify any savings, nor would it be able to satisfy all four stakeholders at once.”
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Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
Tuesday, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
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- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
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