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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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Thursday, 30 April 15
IRON ORE EXPORTS: A DANGEROUS RACE? - CLARKSONS
The surge in iron ore exports in recent years has resulted in a significant decrease in iron ore spot prices, which dipped to a ten year low of bel ...
Thursday, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied ...
Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecti ...
Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market ...
Tuesday, 28 April 15
FOB INDONESIA COAL SWAP DECLINED M-O-M; INCREASED W-O-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week but declined month on month.
The Q2 swap was declined US$ 0.15 ( ...
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- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
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