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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, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
Tuesday, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and s ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
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 fell ...
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- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Minerals Council of Australia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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