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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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Tuesday, 18 March 14
SECOND QUARTER SUB-BIT FOB INDONESIA COAL SWAP LOST 3.27% IN A MONTH
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 18 March 14
NEWCASTLE COAL EXPORT VOLUME FALLS 26.23% WEEK ON WEEK
COALspot.com: In the week ended 17 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 17 March 14
API 8 CFR SOUTH CHINA COAL SWAPS FOR AVERAGE Q2 14 DELIVERIES LOST 2.59% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.59 percent month on month and closed at US$ 74.15 per mt as o ...
Sunday, 16 March 14
BDI DOWN ON LOW CAPESIZE ACTIVITY
COALspot.com: The freight market was slightly soft this week with BDI down by 4.28 pct week on week. The BDI closed at 1,477 points and the cape ...
Friday, 14 March 14
DRY BULK MARKET ENTERS RECOVERY MODE, ON INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has entered and sustained higher ground as of this week, on the back on increased Capesize demand. Although the situation in ...
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- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Planning Commission, India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- The University of Queensland
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
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