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