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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, 26 May 14
SUB-BIT FOB INDO COAL SWAP Q1' 15 DELIVERIES CLOSED AT US$ 59.40 PER MT
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, 26 May 14
Q3 14 CFR SOUTH CHINA COAL SWAPS LOST 2.24% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.24 percent month on month and closed at US$ 73.88 per mt as on F ...
Monday, 26 May 14
NEWBUILDING ORDERING ACTIVITY RISES BY 78% IN DWT TONNAGE OVER THE FIRST 4 MONTHS OF THE YEARS, AS OWNERS INVEST$40.5 BN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have plunged into newbuilding orders during the first four months of the year, as overall newbuilding business ended for the first four ...
Sunday, 25 May 14
FREIGHT RATES FROM SOUTH KALIMANTAN TO EAST COAST INDIAN PORTS WERE ASSESSED AT $9.50/MT
COALspot.com: The BDI was closed at 964 points down by 6.13 pct week on week. The Cape Index was lost 172 points or 11.24% week on week and closing ...
Saturday, 24 May 14
DRY BULK MARKET'S RECOVERY IS JUST AROUND THE CORNER SAYS SHIPOWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the weaker than expected market sentiment in the dry bulk market over the course of the past few months, analysts and shipowners alike appe ...
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- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
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