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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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Tuesday, 25 November 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT $ 49.55
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week.
The Q1 swap has lost US$ 0.12 (-0.24%) ...
Monday, 24 November 14
CHOPPY WATERS IN DRY BULK - SGX
COALspot.com: Dry bulk freight rates have experienced a sharp rise in volatility in recent weeks as bulk commodity supply has ramped up, said SGX i ...
Monday, 24 November 14
Q1 2015 FOB NEWCASTLE COAL SWAP CLOSED AT $ 52.73
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.73 on 21 November after losing US$ 0.40 (-0.75%) month ove ...
Monday, 24 November 14
CFR SOUTH CHINA COAL: Q2' 15 COAL SWAPS CLOSED LOWER COMPARED TO Q1' 15 SWAPS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 0.63 (-0.99%) month over month and US$ 0.12 (-0.19%) da ...
Sunday, 23 November 14
SPOT FREIGHT RATES IMPROVED SLIGHTLY OVER PREVIOUS WEEK
COALspot.com: The BDI was up 5.41 pct week on week and closed at 1,324 points on Friday. All the segments were up this week except Panamax index.&n ...
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- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
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