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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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Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
Wednesday, 15 January 14
INDONESIAN MINING LAW AVERTS BOP PRESSURE, RISKS REMAIN, FITCH SAYS
The last-minute intervention at the weekend by Indonesia's politicians to avert a significant disruption of mining activity and exports, should lim ...
Wednesday, 15 January 14
Q3 AND Q4 INDONESIAN COAL SWAPS DECLINE MONTH ON MONTH
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 1.23 pmt month on month on Friday 10 January 2014. T ...
Wednesday, 15 January 14
PANAMAX: PACIFIC - REMAINED QUIET; ATLANTIC - CONTINUED THEIR RETREAT
COALspot.com: The holiday hangover seems well underway for the Dry Bulk market that saw more ground being lost this past week. The BDI has closed of ...
Tuesday, 14 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL 18.28 %
COALspot.com: In the week ended January 13, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.67 ...
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- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
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