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