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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, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
Monday, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
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- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Minerals Council of Australia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
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