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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, 05 August 13
INDO GOVERNMENT'S DECLARED HBA IN AUGUST '13 FALL TO LOWEST LEVEL SINCE JANUARY '10
COALspot. com - HBA fell to US$ 76.70 this month, the lowest since January 2010. Indonesian Coal Price Reference fell 6.11% and hitting a 2013 ...
Sunday, 04 August 13
COAL SWAP MARKET HAS LOST DIRECTION; STRUGGLING TO CATCH UP
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average October 2013 delivery slightly down on day, week and month on Friday, 2 A ...
Sunday, 04 August 13
INDONESIA TO INDIA SUPRAMAX FREIGHT SOFT DUE TO HOLIDAYS IN INDONESIA - VISTAAR
COALspot.com : The freight market was fairly steady this week with the BDI recovering towards north since second half of the week with the support o ...
Friday, 02 August 13
DRY BULK MARKET STABILIZES ON RENEWED MARKET ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its positive footing this week, although it's still a far cry to deem the market situation as a growing one, especiall ...
Friday, 02 August 13
ASIA ACCOUNTS FOR 27.95 PERCENT OF US COAL EXPORTS IN Q1, 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.80 million short tons (mmst) of ...
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- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- The University of Queensland
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
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