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