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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, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
Monday, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- GMR Energy Limited - India
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