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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, 11 November 15
Q3' 16 RICHARDS BAY COAL SWAP LOST 15.47% SINCE 6 AUGUST; 18.65% SINCE 6 MAY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 declined week over week and month over month.
The Q1’ 2016 &nb ...
Wednesday, 11 November 15
VESSEL VALUES ARE DOWN BY AT LEAST 20% SINCE MID-AUGUST - INTERMODAL
I had promised not to spend another broker’s insight focusing on the dry bulk side. However, the sale of the M/V Churchill Bulker (179,362 dw ...
Tuesday, 10 November 15
SELF-HEATING OF COAL HAS EMPHASISED THE IMPORTANCE OF CHECKING THE ACCURACY OF SHIPPER'S DECLARATIONS - GARD
Recent incidents involving self-heating of coal has emphasised the importance of checking the accuracy of shipper’s declarations for all type ...
Tuesday, 10 November 15
API 5 FOB NEWCASTLE COAL SWAP SLIDES CONTINUE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.55 per ton (8.50%) month over month to US$ 38.20 per ton. The swap ...
Monday, 09 November 15
BUNKER PRICES TO KEEP SLIDING THIS WEEK, EXPERT SAYS - MARINE BUNKER EXCHANGE
The oil price volatility has continued this week. Two dollars up one day and the next day two dollars down. The oil market has been trading on the ...
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- Parliament of New Zealand
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Aditya Birla Group - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
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