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