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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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Wednesday, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...
Monday, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
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, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...
Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...
Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia.
With the cooperation of ...
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- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
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