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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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Wednesday, 16 December 15
FOB RICHARDS BAY COAL SWAP SLUMP 5.5% FROM LAST MONTH
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 16 December 15
MARKET INSIGHT - KATERINA RESTIS
On Friday 4th of December the meeting of OPEC was held in Vienna, Austria. Since its last meeting, oil and product stock levels have continued to r ...
Tuesday, 15 December 15
THE GOVERNMENT DECLARED THERMAL COAL BENCHMARK PRICE CRASHING ONCE AGAIN
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price down to below 2009 level. HBA has slumped by 1.69% mo ...
Tuesday, 15 December 15
API 5 FOB NEWCASTLE COAL SWAP FIRM W-W; WEAK M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $.13 per ton (0.35%) month over month to US$ 37.07 per ton. The swap w ...
Monday, 14 December 15
5000 GAR CS (I) COAL INDEX DECLINE US$ 0.04 PER TON W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.04 per ton (-0.10 %) week over week.
According to the CS (i) coal (system generated ...
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- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
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