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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, 05 February 15
ULTRAMAX LEVELS FROM INDIA TO CHINA IN THE MID US$ 5000'S - FEARNLEYS AS
Handy
Despite the overall weak sentiment, there is a scent of optimism in the Atlantic market for ppt dates. Continent is still struggling with o ...
Wednesday, 04 February 15
MARKET INSIGHT - LINOS KOGEVINAS
It has been just about over 2 months since, in a move that surprised many and caused widespread apprehension, OPEC decided to maintain its producti ...
Tuesday, 03 February 15
Q1'15 FOB INDONESIA COAL SWAP CLOSED $ 3.29 HIGHER COMPARED TO Q4'15 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 rose week over week and month on month.
The Q1 swap up US$ 0.68 (+1.41%) month o ...
Tuesday, 03 February 15
FOB NEWCASTLE COAL SWAP FOR Q4 DELIVERY CLOSED 5.86% LOWER THAN Q1 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery rose US$ 0.26 per MT (+0.51%) week over week and declined US$ 0.02 (-0.04%) ...
Monday, 02 February 15
API 4 FOB RICHARDS BAY COAL SWAP ROSE WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has decli ...
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- PTC India Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
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