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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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Tuesday, 24 March 15
A WEAK WEEK FOR FOB INDONESIA COAL SWAP
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 2.48 (5.12%) month ...
Tuesday, 24 March 15
RICHARDS BAY COAL SWAP FOR DELIVERY Q2 CLOSED $ 1.87 HIGHER COMPARED TO Q3 CLOSING PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has dropped U ...
Tuesday, 24 March 15
ARGUS MEDITERRANEAN SOLID FUELS 2015 CONFERENCE | 2-3 JUNE, ISTANBUL
Press Release: Argus Media is proud to announce Argus Mediterranean Solid Fuels, which will be held in Istanbul,on 2-3February.
Argus produces ...
Monday, 23 March 15
IS OIL GETTING READY TO PLUNGE BELOW $40? - FORBES
KNOWLEDGE TO ELEVATE
In my last crude oil market update in late-February, I expressed my skepticism toward the oil price rebound. Since then, ...
Monday, 23 March 15
Q4' 2015 FOB NEWCASTLE COAL SWAPS DECLINED 6.79% M-O-M; 2.55% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.42 per MT (-6.33%) month over month and US$ 1.37 (-2.77%) we ...
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- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
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