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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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Monday, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
Sunday, 25 October 15
ANOTHER DISAPPOINTING WEEK FOR PANAMAX; INDEX FELL 5.4 PERCENT W-W
COALspot.com: The BDI was slightly up by 2.65 pct closing at 774 points mainly because of Cape index which was up by 10.85 pct closing at 1461 poin ...
Sunday, 25 October 15
DRY BULK SHIP OWNERS ARE LOOKING TO CHINA'S POLICIES FOR CUES ON FUTURE MARKET DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s hard or softer landing is a thing which has troubled dry bulk shipping for a couple of years now, as owners have been hit by the coun ...
Friday, 23 October 15
WILL INDIAN DOMESTIC COAL PRICES BE ABLE TO COMPETE IMPORTED COAL PRICES IF THE CURRENT TREND CONTINUES?
COALspot.com: The Most of the Indian end-users are waiting for last minute purchase to enjoy every drop in price. Coal procurement managers are als ...
Friday, 23 October 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING OCTOBER 17 DECLINED FOR THE SECOND STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
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- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
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