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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, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
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- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
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