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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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- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- ASAPP Information Group - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
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