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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, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
Tuesday, 16 December 14
THIS PRICE IS A STEAL - EVA TZIMA
COALspot.com: Despite concerns that the slowdown of the Chinese economy would affect imports of iron ore, it seems that this has not been the case ...
Tuesday, 16 December 14
FOB RICHARDS BAY COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT US$ 65.60 PMT
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 0.18 (-0.27%) month on month ...
Tuesday, 16 December 14
SUB-BIT FOB INDONESIA COAL SWAP CONTINUES ITS FALL
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 1.7 ...
Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from develo ...
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- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
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