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