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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, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
Tuesday, 21 April 15
SUB-BIT FOB INDONESIA COAL SWAP: GAINED W-O-W; DECLINED M-O-M
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week and declined month on month.
The Q2 swap was declined US$ 1.75 ( ...
Tuesday, 21 April 15
FOB RICHARDS BAY COAL SWAP MOVE UP SLIGHTLY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased slightly month over month.
The Q2 swap has increased US$ 0.2 ...
Monday, 20 April 15
BUKIT ASAM TAKES OVER STAKE IN JV FROM RAJAWALI - JP
State-owned coal miner PT Bukit Asam (PTBA) announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created ...
Monday, 20 April 15
FOB NEWCASTLE COAL SWAP GAINED WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.54 per MT (-7.21%) month over month and gained US$ 0.30 week ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
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