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