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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, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
Tuesday, 10 March 15
FOB NEWCASTLE COAL SWAPS HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 0.24 per MT (-0.47%) month over month and US$ 1.52 (-2.93%) we ...
Tuesday, 10 March 15
CFR SOUTH CHINA POWER-STATION COAL SWAPS DECLINE
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery fell US$ 0.42 (-0.74%) per MT month over month and declined US$ 1.00 &nbs ...
Monday, 09 March 15
INDONESIA GREETS INDIA RATE CUT AS GOOD FOR EXPORTS - GLOBEASIA
Indonesian commodity producers and economists have hailed the Indian central bank’s rate cut as good for boosting exports from Southeast Asia ...
Monday, 09 March 15
CHINA'S SUPREME COURT ISSUES NEW JUDICIAL INTERPRETATION ON SHIP ARREST AND JUDICIAL SALE OF SHIPS - GARD
KNOWLEDGE TO ELEVATE
China is not traditionally a popular jurisdiction for ship arrest. However, Members and clients with ships calling at por ...
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- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- White Energy Company Limited
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
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