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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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Wednesday, 16 December 15
FOB RICHARDS BAY COAL SWAP SLUMP 5.5% FROM LAST MONTH
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 16 December 15
MARKET INSIGHT - KATERINA RESTIS
On Friday 4th of December the meeting of OPEC was held in Vienna, Austria. Since its last meeting, oil and product stock levels have continued to r ...
Tuesday, 15 December 15
THE GOVERNMENT DECLARED THERMAL COAL BENCHMARK PRICE CRASHING ONCE AGAIN
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price down to below 2009 level. HBA has slumped by 1.69% mo ...
Tuesday, 15 December 15
API 5 FOB NEWCASTLE COAL SWAP FIRM W-W; WEAK M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $.13 per ton (0.35%) month over month to US$ 37.07 per ton. The swap w ...
Monday, 14 December 15
5000 GAR CS (I) COAL INDEX DECLINE US$ 0.04 PER TON W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.04 per ton (-0.10 %) week over week.
According to the CS (i) coal (system generated ...
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- White Energy Company Limited
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- PTC India Limited - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
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