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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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Thursday, 26 February 15
DRY BULK MARKET LOOKING FOR POSITIVE MOMENTUM, BUT PROSPECTS REMAIN DIM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the Baltic Dry Index (BDI) inched a bit higher over the past couple of sessions and the Chinese are returning to the market after a week long hi ...
Wednesday, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
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- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- White Energy Company Limited
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
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