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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, 19 January 15
FOB RICHARDS BAY COAL SWAP FOR Q4 DELIVERY CLOSED 4% LOWER THAN Q1 DELIVERY PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and week over week.
The Q1 swap has f ...
Sunday, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
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- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
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