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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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Tuesday, 24 November 15
COAL PRICES SET TO REMAIN UNDER PRESSURE UNTIL 2016 DUE TO OVER SUPPLY GLUT; H1 '16 COAL SWAPS DOWN 13% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
Monday, 23 November 15
NEGATIVE 2016 OUTLOOK FOR WESTERN EUROPEAN STEEL - SAYS FITCH RATINGS
COALspot.com: European steel in 2016 are both negative for the sector and for issuer ratings.
This reflects our expectation that import levels ...
Monday, 23 November 15
DRY BULK MARKET: NET FLEET GROWTH IS SLOWING DOWN, AS SHIP OWNERS ARE LOOKING FOR WAYS TO ALLEVIATING MARKET MELTDOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been in “meltdown” mode for a few weeks now, unable to find support and avoid the fall in historical lows. As s ...
Monday, 23 November 15
CS50 COAL INDEX CLOSED AT $40.27 PER TON; FELL 0.15% FROM LAST WEEK
COALspot.com: The 5700 GAR CS (i) coal index fell by US cents 3 per ton week over week on 20 November 2015. CS 57 (5700 GAR coal) index closed at U ...
Monday, 23 November 15
CFR SOUTH CHINA COAL SWAPS FALL FURTHER ON LOW DEMAND
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.75 (13.99%) per ton month over month.
A commodity swa ...
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- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Economic Council, Georgia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
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