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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, 26 January 16
Q3'16 CFR SOUTH CHINA COAL SWAP DROPPED BELOW $41 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.82 (1.94%) per ton month over month.
A commodity swap is ...
Tuesday, 26 January 16
OUTLOOK FOR GLOBAL OIL MARKETS - OPEC SECRETARY GENERAL
Opening address by HE Abdalla S. El-Badri, OPEC Secretary General, at the Chatham House Conference: Middle East and North Africa Energy 2016, Theme ...
Monday, 25 January 16
5700 GAR COAL INDEX CLOSED $ 50.08 PER TON, $0.20 LOWER FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 1.35 percent week over week to averaging $39.39 per ton on this past Friday, ...
Monday, 25 January 16
SHOULD A DEFAULTING PARTY BE ENTITLED TO AN INNOCENT PARTY'S SAVING, FOLLOWING THEIR BREACH OF CONTRACT? - THE NEW FLAMENCO REVISITED
KNOWLEDGE TO ELEVATE
This case was addressed by the club in our of January 2015, when the High Court decision became available. The background ...
Monday, 25 January 16
DRY BULK SHIPPING: A MISERABLE START TO A NEW YEAR, WHERE THE MARKET STRUGGLES TO GROW AT ALL - BIMCO
The global production of steel dropped in 2015 compared to 2014, to a larger extent outside China, as China exported its surplus of steel to destin ...
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- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
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