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