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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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Monday, 10 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
COALspot.com: The BDI was down by 1.71 pct and closed at 1091 points week ended 7 February 2014. The BDI seemed to reach the bottom as the cape inde ...
Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law ...
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- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- The University of Queensland
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
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