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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, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
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- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- The University of Queensland
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
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