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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, 19 August 15
FOB INDONESIA COAL SWAPS CONTINUE FLAT TREND LINE THIS WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and flat week over week, this past week.
The 4Q swap was decli ...
Tuesday, 18 August 15
DRY BULK: MARKETS HAVE CONTINUED TO BE SEVERELY CHALLENGED - CLARKSONS
The dry bulk markets have continued to be severely challenged with freight rates falling during the period to below operating expense. The Baltic D ...
Tuesday, 18 August 15
1Q'16 FOB RICHARDS BAY COAL SWAP FALLS BELOW $54 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 18 August 15
2Q' 16 FOB NEWCASTLE COAL SWAP CLOSED AT $43 PER MT W/E 14 AUGUST
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.08 per MT (-2.46%) month over month to US$ 42.82 per mt. The swap ...
Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest imp ...
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- Minerals Council of Australia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
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