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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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Friday, 31 July 15
CAPE'S PAPER MARKET REMAINS FIRM - INTERMODAL
COALspot.com: The positive sentiment that the Dry Bulk market has been enjoying as of the previous month, was carried through last week as well, bu ...
Friday, 31 July 15
COAL PRODUCTION IN THE U.S. UP 3.6% FOR THE WEEK ENDING JULY 25
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector p ...
Thursday, 30 July 15
EFFECTS OF THE CHINESE STOCK MARKET CRISIS - INTERMODAL
All evidence is currently signaling that the Chinese stock market will be the newest hurdle for the global economy. With the world's second lar ...
Wednesday, 29 July 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED HIGHER THAN Q3'15
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and gains week over week, this past week.
The Q3 swap was decl ...
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- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- VISA Power Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
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