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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, 11 November 15
Q3' 16 RICHARDS BAY COAL SWAP LOST 15.47% SINCE 6 AUGUST; 18.65% SINCE 6 MAY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 declined week over week and month over month.
The Q1’ 2016 &nb ...
Wednesday, 11 November 15
VESSEL VALUES ARE DOWN BY AT LEAST 20% SINCE MID-AUGUST - INTERMODAL
I had promised not to spend another broker’s insight focusing on the dry bulk side. However, the sale of the M/V Churchill Bulker (179,362 dw ...
Tuesday, 10 November 15
SELF-HEATING OF COAL HAS EMPHASISED THE IMPORTANCE OF CHECKING THE ACCURACY OF SHIPPER'S DECLARATIONS - GARD
Recent incidents involving self-heating of coal has emphasised the importance of checking the accuracy of shipper’s declarations for all type ...
Tuesday, 10 November 15
API 5 FOB NEWCASTLE COAL SWAP SLIDES CONTINUE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.55 per ton (8.50%) month over month to US$ 38.20 per ton. The swap ...
Monday, 09 November 15
BUNKER PRICES TO KEEP SLIDING THIS WEEK, EXPERT SAYS - MARINE BUNKER EXCHANGE
The oil price volatility has continued this week. Two dollars up one day and the next day two dollars down. The oil market has been trading on the ...
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- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
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