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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, 19 November 15
CHINA STEEL PRODUCTION CAPACITY TO PEAK IN 2016 - FITCH RATINGS
COALspot.com: Fitch Ratings today says that China's steel production capacity is likely to peak in 2016, with capacity elimination over the nex ...
Thursday, 19 November 15
Q3' 16 RICHARDS BAY COAL SWAP CLOSED 9% LOWER THAN Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up week over week and month over month.
The Q1’ 2016 swa ...
Thursday, 19 November 15
RATES FOR CAPES KEPT MOVING SOUTH - INTERMODAL
COALspot.com: With the BDI currently standing at less than 30 points above the historical lows marked in February this year and with activity acros ...
Wednesday, 18 November 15
MARKET (SHIPPING) INSIGHT - THEODORE NTALAKOS
Supply VS Demand
According to data from the IMF, global growth for 2015 is projected at 3.1 percent, 0.3 percentage point lower than in 2014, ...
Tuesday, 17 November 15
KOMIPO INVITES BIDS FOR (SEMI) ANTHRACITE COAL FOR SEOCHEON POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 70,000 Metric Tons of (Semi) Anthracite for Ja ...
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- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
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