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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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Friday, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
Thursday, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
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- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
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