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