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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, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
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- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Economic Council, Georgia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
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