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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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- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
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