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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, 02 April 15
NEWBUILDING ORDERS FOR DRY BULK CARRIERS "DRY" UP
Newbuilding ordering activity remained subdued over the course of the past week, as ship owners are wary of adding further tonnage to an already pr ...
Wednesday, 01 April 15
SUPRAMAX & HANDY: RATES HELD STEADY TOWARDS THE WEEKEND
“Despite the fact that the Dry Bulk market closed off on the green last week, sentiment didn't improve by any means, not only because of ...
Wednesday, 01 April 15
WEEKLY SHIPPING MARKET UPDATE - INTERMODAL
There is no doubt that we are still witnessing a very challenging and at the same time very uncertain market, both with respect to dry chartering a ...
Wednesday, 01 April 15
Q4' 15 INDONESIA COAL SWAP CLOSED AT $45.15 W/E 27 MARCH 2015
COALspot.com: Indonesian coal swap for delivery Q2' 2015 drops month on month and week over week.
The Q2 swap declined US$ 1.54 (3.24%) mo ...
Tuesday, 31 March 15
RICHARDS BAY COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month but increased week on week.
The Q2 swap has ...
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- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
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