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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, 07 October 13
SGX - CFR SOUTH CHINA COAL SWAPS END ALMOST FLAT
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Monday, 07 October 13
Q3'14 SUB-BIT FOB INDONESIA COAL SWAP CLOSED 6.53% HIGHER THAN Q4'13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery gained 0.53 % on day and fell 2.33 percept month on month ...
Sunday, 06 October 13
DRY BULK FREIGHT MARKET STAYS STEADY IN SPITE CHINESE HOLIDAYS - SOLYM CARRIERS SINGAPORE
COALspot.com: The freight market continued to remain firm in spite of Chinese holidays.
The BDI closed at 2,084 points on Friday 4 October or up ...
Saturday, 05 October 13
CAPESIZE EARNINGS SKYROCKET AS A RESULT OF INCREASED CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
An increased iron ore demand has triggered this latest dry bulk rally, which could get yet another boost during next week, when China is expected to ...
Friday, 04 October 13
NICKEL ORE SHIPMENTS - LESSONS LEARNED FROM LOSSES
One of the most pressing problems for the bulk shipping industry is the safe carriage of nickel ore. The increasing demand for this commodity is fue ...
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- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- The University of Queensland
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
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