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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, 04 August 14
Q1' 15 API 8 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 69.37 ON 1 AUGUST 2014; A $ 1.10 HIGHER COMPARED TO Q4' 2014 CLOSING
COALspot.com: Coal swap prices are showing a positive move upward this past week. API 8 CFR South China Coal swap for Q4, Q1 and Q2 2015 show ...
Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
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- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- The University of Queensland
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
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