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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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Sunday, 29 September 13
SUB-BIT INDONESIA COAL SWAP FELL ON MONTH AND WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 3.93 percept month on month on Friday 27 September 2 ...
Friday, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
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- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
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