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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, 01 December 15
TANKERS VERSUS BULKERS - JUST PLAYING CATCH UP? - CLARKSONS
It’s now more than a year since the tanker market took off. In mid-2014 tanker earnings picked up and since then have been in the $30-$40,000 ...
Monday, 30 November 15
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
ASSOCARBONI is in favour of an international mechanism to provide financial support to countries building high efficiency low emission coal plants. ...
Monday, 30 November 15
CS 5000 GAR COAL INDEX FIRM D-O-D; WEAK W-O-W
COALspot.com: The 5000 GAR CS (i) coal index up slightly day over day.
According to the system generated index, the CS 50 (5000 GAR coal) was ...
Monday, 30 November 15
CFR SOUTH CHINA COAL SWAPS REMAINED UNCHANGED FROM LAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.50 (9.78%) per ton month over month.
A commodity swap ...
Sunday, 29 November 15
CAPE INDEX SURGES 383 POINTS WEEK OVER WEEK, BOOSTS BALTIC DRY INDEX
COALspot.com: The Baltic Dry Index, a measure of shipping rates, fell to 498 points on 20 November and touched a 30-year low, but on 27 November th ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
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