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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, 09 June 15
FOB RICHARDS BAY COAL SWAPS DECLINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was fell US$ ...
Monday, 08 June 15
SHIPPING FLEET GROWTH HAS STARTED TO SLOW DOWN, AS NEWBUILDINGS AMOUNT TO JUST 329 SHIPS OF ALL TYPES SINCE THE START OF 2015 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Challenging market conditions have led to the inevitable reconsideration of ship owners’ priorities. Uncertainty has been the norm over the p ...
Monday, 08 June 15
API 5 FOB NEWCASTLE COAL SWAPS ADVANCED M-O-M AND W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery increased US$ 0.65 per MT (1.44%) month over month to US$ 45.65 per mt. The ...
Monday, 08 June 15
Q3'15 CFR SOUTH CHINA COAL SWAP ADVANCED 3.51% TO $52.48 PMT THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.78 (3.51%) per MT month over month.
A commodity swap is a ...
Sunday, 07 June 15
PANAMAX INDEX ROSE OVER 13% THIS WEEK
COALspot.com: The freight market was up on all segments this past week. The BDI was advanced 3.56% and closed at 610 points. The Cape Index was cli ...
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- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
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