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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, 01 July 15
BEIJING HAS OFFICIALLY EXTENDED BY TWO YEARS ITS SUBSIDY PROGRAM TO SUPPORT LOCAL SHIPPING COMPANIES IN SCRAPPING THEIR OLD TONNAGE - INTERMODAL
Last week, Beijing has officially extended by two years its subsidy program to support local shipping companies in scrapping their old tonnage in w ...
Tuesday, 30 June 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED $ 43.45 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and flat week over week, this past week.
The Q3 swap was decli ...
Monday, 29 June 15
CFR SOUTH CHINA COAL SWAPS UP SLIGHTLY MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 0.57 (1.11%) per MT month over month.
A commodity swap is a ...
Monday, 29 June 15
FOB NEWCASTLE COAL SWAP SLIGHTLY UP MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.49 per MT (1.08%) month over month to US$ 45.77 per mt. The swap was ...
Saturday, 27 June 15
THE FREIGHT MARKET WAS STEADY EARLIER IN THE WEEK; SOFTEN INTO WEEK'S END
COALspot.com: The freight market remain steady earlier in the week, but towards end of the week BDI and BCI shows some signs of softening.
The ...
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- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
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