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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, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
Tuesday, 15 April 14
NEWCASTLE SHIPPED MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 14 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 14 April 14
SUB-BIT FOB INDO COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT US$ 60.12 PER MT
COALspot.com: Indonesian coal swaps for average Q4’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 14 April 14
INDONESIA'S Q1 COAL PRODUCTION LITTLE CHANGED EVEN WITH PRICE DROP - INVESTOR DAILY
Indonesia’s coal production by volume in the first quarter remained little changed from the same period last year despite the decline in t ...
Monday, 14 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAIN FOR THE MONTH & WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 4.61 percent month on month and closed at US$ 76.18 per mt as ...
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- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
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