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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, 18 August 13
SUB-BIT FOB INDONESIA COAL SWAP : ON POSITIVE DIRECTION ON DAY, WEEK AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 1.83 up month on month. The swap was moved positive ...
Sunday, 18 August 13
INDO - INDIA FREIGHT EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market was up this week with the BDI gaining more than 10 pct due to strong Cape Sector.
The BDI was closed at 1,102 p ...
Friday, 16 August 13
US COAL PRODUCTION SLIGHTLY UP ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.10 million short tons (mmst) of ...
Thursday, 15 August 13
CAPESIZE : TRENDS SOMETIMES SHIFT WITH NO PRIOR WARNING - FEARNRESEARCH
Handy
The influence of the summer holidays across Europe was felt in the Atlantic basin this week. Very little activity and a growing list of avail ...
Wednesday, 14 August 13
ANOTHER WEEK IN THE RED FOR DRY BULK CARRIERS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable- )
Another week in the red for Dry Bulk carriers with the market losing further steam as fewer an ...
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- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- The University of Queensland
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- White Energy Company Limited
- Baramulti Group, Indonesia
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