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