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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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Sunday, 24 January 16
PANAMAX MARKET WEAKENS ACROSS THE BOARD
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell ninetee ...
Friday, 22 January 16
WEEKLY US COAL PRODUCTION ESTIMATES ALMOST FLAT
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.3 million shor ...
Friday, 22 January 16
COAL PRICES TO REMAIN UNDER PRESSURE THIS YEAR
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week. The falling trend of prices for coal was continuing ...
Friday, 22 January 16
Q3' 16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 40.80; DECLINE $ 2.80 M-O-M
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and decline week over week.
The Q1’ 2016 FOB Richards B ...
Wednesday, 20 January 16
Q3'16 FOB NEWCASTLE COAL SWAP CLOSED $ 2.40 LESSER THAN Q1'16 CLOSING PRICE OF $ 38.10
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $0.77 per ton (2.06%) this past week compared to the sam ...
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- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
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