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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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Sunday, 10 January 16
LNG BUNKERING IN ASIA: FUELING A PROMISING FUTURE? - REED SMITH
The requirement of a mandatory reduction of sulphur content in bunker fuel proposed by the International Maritime Organisation (IMO) poses a challe ...
Saturday, 09 January 16
BALTIC DRY INDEX SINKS 10% WEEK OVER WEEK TO AN ALL-TIME LOW OF 429 POINTS
COALspot.com: The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, decline around 10% we ...
Friday, 08 January 16
FOB INDONESIA COAL SWAP FOR DELIVERY H1'16 REMAIN FLAT AS DEMAND DROPS OFF
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month, flat week over week. The price for coal has been in a Dull Market sinc ...
Friday, 08 January 16
FOB RICHARDS BAY COAL SWAP FOR Q2'16 DELIVERY CLOSED UP $0.13 AT $45.50 PER TON
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 FOB R ...
Friday, 08 January 16
WEEKLY US COAL PRODUCTION DECLINES 1.6% TO 11.7 MMST, SAYS EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.7million short ...
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- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
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