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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, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overa ...
Thursday, 16 April 15
INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 - PTI
India’s coal imports in the just concluded FY 2015 increased by 33 per cent to about 240 million tonnes.
“Coal import have gone up ...
Thursday, 16 April 15
CAPESIZE: THE SUPPLY AND DEMAND SIDE ARE NOW SUFFERING HEAVILY - FEARNLEYS
Handy
It seems to be some standoff between owners and charterers in both hemispheres this week. Owners are raising their rates while charterers a ...
Thursday, 16 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.67 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month.
The Q2 swap has declined US$ 1.90 (3.17%) m ...
Wednesday, 15 April 15
PORT OF NEWCASTLE SHIPPED 13.63 MMT OF COAL IN MARCH; UP 4.41% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.227 billi ...
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- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
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