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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, 05 January 15
CFR SOUTH CHINA COAL SWAPS GAINED WEEK OVER WEEK, SGX DATA SHOWS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 2.50 (-4.02%) month over month and gained US$ 0.20 ( ...
Monday, 05 January 15
FIVE ENERGY SURPRISES FOR 2015: THE POSSIBLE AND THE IMPROBABLE - KURT COBB
The coming year is likely to be as full of surprises in the field of energy as 2014 was. We just don't know which surprises! I am not predictin ...
Monday, 05 January 15
THE SHIPPING MARKET IN 2014 AND LOOKING FORWARD - BIMCO
2014 started with plenty of optimism for a considerably better global economy and an improved shipping market. Things turned out somewhat different ...
Monday, 05 January 15
API 5 FOB NEWCASTLE COAL SWAP FOR Q1'15 DELIVERY CLOSED US$ 0.45 HIGHER COMPARED TO Q2'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 0.60 per MT (-1.15%) month over month and gained US$ 0.02 (+0.04%) ...
Sunday, 04 January 15
BALTIC DRY INDEX CONTINUES ITS DECLINE IN 2015
Wish you all a very Happy New Year 2015. The last report was dated 19th Dec 2014 and due to Christmas and new year holidays no reports were publish ...
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- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
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