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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, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
Tuesday, 03 November 15
EU OIL MAJORS FACE FURTHER EARNINGS DECLINE IN Q415 - FITCH RATINGS
The sharp drop in major European oil companies' third-quarter profits is likely to be extended in the fourth quarter as refining margins, which ...
Monday, 02 November 15
DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
COALspot.com: Despite challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
The Indonesia’s ...
Monday, 02 November 15
CFR SOUTH CHINA COAL SWAPS CLOSED ON A WEAK NOTE
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.81(3.71 %) per ton month over month.
A commodity swap ...
Sunday, 01 November 15
THE FREIGHT MARKET SENTIMENT REMAINS WEAK
This week’s freight market sentiment remains weak compared to last week.
The Baltic Dry Index (BDI), an economic indicator issued daily ...
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- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
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