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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, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
Wednesday, 14 January 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In Oil we trust! The Barrel price has declined by almost a third in comparison to the 2014 January and has being on the downhill since early last s ...
Wednesday, 14 January 15
COMMODITIES AREN'T PRIMED FOR A REBOUND DURING 2015: SHIPPING COULD BENEFIT FROM LOWER PRICES - ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In the recent past, higher commodity prices were driven by an increase in demand from developing countries, which spelled good news for ship owners ...
Wednesday, 14 January 15
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week.
The Q1 swap has fell US$ 1.53 (-3.15 ...
Wednesday, 14 January 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED 4.51% LOWER COMPARED TO Q1' 15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.56 per MT (-3.0%) month over month and US$ 1.03 (-2.0%) week ove ...
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- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
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