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