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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, 07 July 15
FOB NEWCASTLE COAL SWAP ADVANCED MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.28 per MT (-0.61%) month over month to US$ 45.85 per mt. The swap wa ...
Monday, 06 July 15
KOREA MIDLAND POWER COMPANY LIMITED ISSUED A TENDER FOR 250K MT BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 250K Metric Tons (MT) of 5300 kcal/kg NAR coal ...
Monday, 06 July 15
COAL TRADING & RISK MANAGEMENT TRAINING COURSE
Are you ready to invest in yourself and take your trading and risk management strategy to the next level? The Coal Trading & Risk Management Tr ...
Monday, 06 July 15
CFR SOUTH CHINA COAL SWAP; DECLINED D-O-D,W-O-W AND M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.53 (1.01%) per MT month over month.
A commodity swap ...
Sunday, 05 July 15
THE BALTIC DRY INDEX WAS DOWN 18%; PANAMAX UP 9%
COALspot.com: The freight market was soft during this week. However indices closed slightly firmer end of the week on 3rd July.
The BDI was do ...
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- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
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