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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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Tuesday, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
Sunday, 19 May 13
COAL PRICES ARE SLUMPING DUE TO WEAK DEMAND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.03 percent and API 8 CFR South China Coal shipment g ...
Sunday, 19 May 13
FREIGHT RATES TO REMAIN UNSTABLE AND VOLATILE - CAPT. REDDY
COALspot.com – The freight remained weak this week with all the segments down.
The BDI, the Baltic Dry Index is a number issued daily by th ...
Friday, 17 May 13
US COAL PRODUCTION CLIMBED 3.35 PER CENT WEEK ON WEEK
COALspot.com - U.S. produced totaled approximately 18.50 million short tons (mmst) in a week (For the week ended May 11, 2013), EIA said in its late ...
Thursday, 16 May 13
PANAMAX: THE FORWARD CURVE IS FALLING GRADUALLY - FEARNRESEARCH
Handy
The Atlantic market remained quiet. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The Pacific market remained uncertain as ...
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- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- The University of Queensland
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
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