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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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Monday, 15 June 15
API 5 FOB NEWCASTLE COAL SWAP: Q1'16 DELIVERY CLOSED 1.14% LOWER THAN Q4'15 DELIVERY PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 1.10 per MT (2.47%) month over month to US$ 45.67 per mt. The swap ...
Monday, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
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- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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