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