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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, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
Monday, 18 May 15
Q1' 16 API 8 CFR SOUTH CHINA COAL SWAP CLOSED HIGHER THAN Q3' 15 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.05 (2.10%) per MT month over month and US$ 0.53 (1.05%) pe ...
Sunday, 17 May 15
INDONESIA - INDIA FREIGHTS RATES EXPECTED TO FLAT TO SOFT NEXT WEEK
COALspot.com: The BDI was up by 10.45% and closed at 634 points week on week, while the Cape index saws big jump or up almost 55% for the same peri ...
Friday, 15 May 15
DRY BULK AND CONTAINER SHIPPING TO REMAIN WEAK, OUTLOOK FOR PORTS AND TANKERS POSITIVE - DREWRY MARITIME EQUITY RESEARCH
Global economy is in a gradual recovery mode, sending mixed signals to investors. Chinese economic data continues to remain weak as economy transit ...
Friday, 15 May 15
COAL PRODUCTION IN U.S DOWN 1.4 MILLION TONS FOR THE WEEK ENDING MAY 8
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
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- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Planning Commission, India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
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