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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, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
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