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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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Thursday, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
Thursday, 03 December 15
PANAMAX BUSINESS REMAINED UNDER PRESSURE LAST WEEK
COALspot.com: Following the new record lows the Dry Bulk market witnessed the week prior, the BDI took a much needed breath during the past days.
...
Wednesday, 02 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SLIGHTLY UP FOR THE THIRD STRAIGHT WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up month over month and fell week over week.
The Q1’ 2016 &nbs ...
Wednesday, 02 December 15
MARKET INSIGHT - VASSILIS LOGOTHETIS
Boom and bust cycles in commodity prices are not something rare, yet they have important implications both for the world economy in general and for ...
Tuesday, 01 December 15
FOB NEWCASTLE COAL SWAP UP THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.75 per ton (9.26%) month over month to US$ 36.75 per ton. The swap ...
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- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- The University of Queensland
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
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