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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, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
Monday, 22 September 14
CFR SOUTH CHINA COAL SWAPS LOST ON DAY, WEEK AND MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 3.10 (-4.50%) month over month and $ 0.95 PT MT week over ...
Monday, 22 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.35 (+0.69%) day on day and lost US$ 0.30 (-0.58%) per mt week on week. ...
Sunday, 21 September 14
CAPE INDEX LOST 17% W-O-W ; BALTIC DRY PLUNGES 106 POINTS
COALspot.com: This week the freight market softened a bit compared to last week.
BDI fell 8.97% week on week and closed BDI at 1075 points on ...
Friday, 19 September 14
U.S. WEEKLY COAL PRODUCTION RELATIVELY FLAT AT +0.1% - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
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- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
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