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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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Thursday, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
Thursday, 03 December 15
PANAMAX BUSINESS REMAINED UNDER PRESSURE LAST WEEK
COALspot.com: Following the new record lows the Dry Bulk market witnessed the week prior, the BDI took a much needed breath during the past days.
...
Wednesday, 02 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SLIGHTLY UP FOR THE THIRD STRAIGHT WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up month over month and fell week over week.
The Q1’ 2016 &nbs ...
Wednesday, 02 December 15
MARKET INSIGHT - VASSILIS LOGOTHETIS
Boom and bust cycles in commodity prices are not something rare, yet they have important implications both for the world economy in general and for ...
Tuesday, 01 December 15
FOB NEWCASTLE COAL SWAP UP THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.75 per ton (9.26%) month over month to US$ 36.75 per ton. The swap ...
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- CNBM International Corporation - China
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
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