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