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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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Thursday, 18 June 15
MERCATOR'S KAMSARMAX FIXED WITH CLEARLAKE
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company focused on markets such as India, ...
Wednesday, 17 June 15
PANAMAX RATE AVERAGED $22.82 PMT IN THE FIRST 10 DAYS OF JUNE FOR THE GRAIN ROUTE FROM SANTOS, BRAZIL, TO QINGDAO, CHINA - INTERMODAL
This year, Brazil will be exporting a record 96 million tons of soybean crop and starting in August the country will begin shipping a second corn c ...
Tuesday, 16 June 15
MERS: POTENTIAL CHARTERPARTY IMPLICATIONS - CLYDE & CO
KNOWLEDGE TO ELEVATE
South Korea's current outbreak of Middle East Respiratory Syndrome (MERS) has been the focus of much international at ...
Tuesday, 16 June 15
Q3 FOB INDONESIA COAL SWAP PRICE DOWN 50 CENTS OVER PAST WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month but declined week over week, this past week.
The Q3 swap was clim ...
Tuesday, 16 June 15
FOB RICHARDS BAY COAL SWAPS: PRICES MOVED UP ON THE WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and week over week.
The Q3 swap was up US$ 1.70 ...
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- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Central Electricity Authority - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
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