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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, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each econom ...
Tuesday, 12 May 15
FOB INDONESIA COAL SWAP; DECLINED M-O-M AND W-O-W
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 0 ...
Tuesday, 12 May 15
FOB RICHARDS BAY COAL SWAPS: LOST W-O-W; GAIN M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and decreased week over week.
The Q3 swap h ...
Monday, 11 May 15
DRY BULK CARRIER ORDERS CRASH TO A TWENTY YEAR LOW - CLARKSONS
In the last four months dry bulk orders have fallen to 0.4m dwt per month, the lowest level since the 1990s. This is a massive 98% reduction from t ...
Monday, 11 May 15
HBA PRICE DIPS FURTHER; LOWEST RECORDED SINCE JANUARY 2009
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 61.08 per MT in May ...
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- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
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