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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, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
Monday, 30 June 14
INDO - INDIA FREIGHT RATES CONTINUE TO WEAK
COALspot.com: The latest dry Index shows that average all-in spot freight declined, the Panamax and Supramax slipping by 9.11 percent and 4% respec ...
Friday, 27 June 14
DRY BULK MARKET STILL LOOKING FOR UPSIDE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept up its lacklustre performance during the past week, as evidenced by the course of the Baltic Dry Index (BDI). The BDI ...
Thursday, 26 June 14
PANAMAX : A PACIFIC ROUND PAYS AROUND US$ 3K DAILY - FEARNLEYS AS
Handy
In the Atlantic there has been little activity which again has caused rates to slip across all trades. TA´s are now down to US$ 5,500 ...
Thursday, 26 June 14
KOMIPO INVITES BIDS FOR TOTAL 750K MT OF BITUMINOUS COAL FOR 3CY
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) has issued a new tender for supply of total 250,000 MT of bituminous co ...
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- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
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