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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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Wednesday, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
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 fell US$ ...
Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
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- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
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