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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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Monday, 26 January 15
API 8 CFR SOUTH CHINA COAL SWAP CONTINUE TO SLIDE M-O-M; ROSE W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.79 (-1.33%) per MT month over month and gained US$ 2.10&nb ...
Sunday, 25 January 15
PANAMAX FREIGHT RATES STILL FALLING
COALspot.com: The BDI was slightly down this week to 720 points. The BDI lost 2.83 pct week on week.
The cape index continued its upward trend ...
Friday, 23 January 15
U.S. WEEKLY COAL PRODUCTION FOR WEEK ENDING JAN. 17 UP 2.5%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.4 million short tons (mmst) of coal ...
Thursday, 22 January 15
PANAMAX: A SOFTER TONE AND OVERALL A SLUGGISH MARKET - FEARNLEYS
Handy
The handy and supra market has experienced yet another week with slow activity and softening rates in both hemispheres, broker Fearnleys AS ...
Thursday, 22 January 15
BUMI RESOURCES POSTS NET INCOME OF $13.3 MILLION 9M-2014
COALspot.com: Bumi Resources, Indonesia’s largest coal miner, reported today that, the company has recorded a net income of $13.3 million for ...
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- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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