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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, 09 December 13
SOUTH AFRICA'S RICHARDS BAY COAL EXPORTS IN NOVEMBER DECLINED 14.43% M-M
COALspot.com: South Africa's Richards Bay coal terminal exported 6.224 million tonnes of coal in November, declining by 1.05 million tons from the ...
Monday, 09 December 13
SUB-BIT INDONESIA COAL SWAP FOR Q3' 14 DELIVERY CLOSED $ 0.57 LESSER THAN Q1 CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.49 pmt month on month on Friday 6 Decembe ...
Sunday, 08 December 13
SOUTH CHINA COAL SWAPS SHOW A DECLINE TREND IN Q2 & Q3' 14
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 6.76 percept month on month as on Friday 6 December 2013. T ...
Sunday, 08 December 13
RBCT SHIPPED 63.446 MMT OF COALS YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 63,446,232 mt of coals YTD, according to por ...
Saturday, 07 December 13
SUPRAMAX SHIPS FOR EC INDIA TO CHINA ROUTE BEING FIXED AT AROUND US$ 13K - SOLYM
COALspot.com: The freight market continued to be firm due to high Iron ore demand. The cape index was up by almost 25 pct this week. The grain seaso ...
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- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
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