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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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Monday, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
Sunday, 25 October 15
ANOTHER DISAPPOINTING WEEK FOR PANAMAX; INDEX FELL 5.4 PERCENT W-W
COALspot.com: The BDI was slightly up by 2.65 pct closing at 774 points mainly because of Cape index which was up by 10.85 pct closing at 1461 poin ...
Sunday, 25 October 15
DRY BULK SHIP OWNERS ARE LOOKING TO CHINA'S POLICIES FOR CUES ON FUTURE MARKET DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s hard or softer landing is a thing which has troubled dry bulk shipping for a couple of years now, as owners have been hit by the coun ...
Friday, 23 October 15
WILL INDIAN DOMESTIC COAL PRICES BE ABLE TO COMPETE IMPORTED COAL PRICES IF THE CURRENT TREND CONTINUES?
COALspot.com: The Most of the Indian end-users are waiting for last minute purchase to enjoy every drop in price. Coal procurement managers are als ...
Friday, 23 October 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING OCTOBER 17 DECLINED FOR THE SECOND STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
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- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
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