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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, 16 June 14
API 8 CFR SOUTH CHINA COAL SWAPS FALL CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.34 percent month on month and closed at US$ 71.05 per mt a ...
Sunday, 15 June 14
COAL FREIGHT RATES FALL FURTHER ON LACK OF DEMANDS - CAPT. REDDY
COALspot.com: The BDI softened this week as all segments fell this week. The Panamax sector being most affected. The Cape index was down 3.51 pct w ...
Friday, 13 June 14
US COAL PRODUCTION FELL 3% IN WEEK THAT ENDED JUNE 7, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yest ...
Thursday, 12 June 14
INDONESIA SETS HBA FOR MONTH OF JUNE AT US$ 73.64
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised up first time in last four months the coal bench mark price. ...
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- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
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