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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, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
Monday, 07 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAINED 2.09% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 2.09 percent month on month and closed at US$ 75.68 per ...
Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING
COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall r ...
Friday, 04 April 14
UNITED STATES COAL OUTPUT UP 5.4% IN PAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.9 million short tons (mmst) of coal i ...
Thursday, 03 April 14
PANAMAX SECTOR IS WATCHING A SEVERE DROP IN RATES - FEARNLEYS
Handy
A further weaker sentiment for the Supras as well in both hemispheres this week with oversupply of tonnage being the major headline. Tra ...
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- Interocean Group of Companies - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
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