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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, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. ...
Wednesday, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high- ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
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- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
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