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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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- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
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