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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, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
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- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- The University of Queensland
- White Energy Company Limited
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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