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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, 20 October 15
FOB RICHARDS BAY COAL SWAPS SINK INTO RED THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Tuesday, 20 October 15
API 5 FOB NEWCASTLE COAL SWAP CLOSED NEGATIVE
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $1.23 per ton (2.86%) month over month to US$ 41.80 per ton. The ...
Monday, 19 October 15
RUSSIA MAJOR COAL MINER KRU CUTS 4.5 MLN T/YR "UNPROFITABLE" EURO SALES - JACQUELINE HOLMES
COALspot.com: Kuzbassrazrezugol (KRU), one of Russia's largest producers of high-quality coal, plans to cut its coal exports in 2016 by about 4 ...
Monday, 19 October 15
CFR SOUTH CHINA COAL SWAP CLOSED AT $48.68 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 55 (1.12 %) per ton month over month.
A commodity ...
Monday, 19 October 15
KOMIPO SEEKS 1.28 MILLION T/Y COAL FOR DEC 2015 - Q2 2016
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,280,000 Metric Tons (MT) of minimum 4,600 kc ...
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- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- The University of Queensland
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
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