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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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- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Australian Coal Association
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
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