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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, 21 January 14
PORT OF NEWCASTLE SHIPPED SLIGHTLY MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 20 January 14, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2. ...
Monday, 20 January 14
SUB-BIT INDONESIA COAL SWAP SEEN LOWER IN 2ND HALF OF 2014
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.78 pmt month on month on Friday 17 January 2014. T ...
Monday, 20 January 14
THE CFR SOUTH CHINA COAL MARKET APPEARS TO HAVE LOST DIRECTION
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 4.25 percept month on month and closed at US$ 79.48 per mt as ...
Sunday, 19 January 14
FREIGHT MARKETS SEE CONTINUED WEAK PERFORMANCE
COALspot.com: The market has continued to soften particularly in the far East/SE Asia sector.
The BDI was down 6 pct week on week, the index was ...
Friday, 17 January 14
US COAL PRODUCTION DOWN WEEK ON WEEK: EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.3 million short tons (mmst) of co ...
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- Goldman Sachs - Singapore
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
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