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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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Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
Monday, 30 March 15
Q3' 15 CFR SOUTH CHINA COAL SWAP: DECLINED 8.7% M-M; 12.77% Y-TO-D
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.00 (-8.70%) per MT month over month and US$ 1.33 (-2 ...
Monday, 30 March 15
Q2' FOB NEWCASTLE COAL SWAP CLOSED 4.47% HIGHER THAN Q4' CLOSING PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 5.42 per MT (-10.43%) month over month and US$ 1.60 (-3.32%) w ...
Sunday, 29 March 15
INDO - INDIA: SUPRAMAX & PANAMAX FREIGHT MARKET STEADY
COALspot.com: The freight market was almost stable as all segments slightly up except Panamax sector.
The BDI was up by just 0.85% week over w ...
Saturday, 28 March 15
IS NORTHERN EUROPE THE NEW MINING ELDORADO?
The Europe Mining 2015 Summit, organised by Global Summits organizer IRN on 17-18 June in Amsterdam, The Netherlands, will gather senior level repr ...
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- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Planning Commission, India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
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