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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, 04 August 15
SHIPPING CYCLES - A CHESS GAME YOU DON'T WANT TO LOSE - CLARKSONS
Ingmar Bergman’s classic movie The Seventh Seal is about a knight who, during the Black Death, challenges Death to a chess match, in the hope ...
Monday, 03 August 15
NEWCASTLE COAL SWAPS DECLINE FURTHER THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.92 per MT (-4.22%) month over month to US$ 43.58 per mt. The swap ...
Monday, 03 August 15
CFR SOUTH CHINA COAL SWAPS SLIDE THIS WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.64 (3.14%) per MT month over month.
A commodity swap ...
Sunday, 02 August 15
CAPESIZE RATES PUSH BDI UPWARD
COALspot.com: The freight market was buoyant this week as BDI rose 4.14 pct to 1131 points. The cape index was also increased 16.50 pct 2209 points ...
Saturday, 01 August 15
DRY BULK MARKET KEEPS ITS MOMENTUM, AS OUTLOOK IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although conditions remain more than challenging, especially from an economic point of view (aka China’s stock worries), the dry bulk market ...
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- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- MS Steel International - UAE
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Xindia Steels Limited - India
- The University of Queensland
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Minerals Council of Australia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
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