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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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- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
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