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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, 20 October 15
FOB RICHARDS BAY COAL SWAPS SINK INTO RED THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Tuesday, 20 October 15
API 5 FOB NEWCASTLE COAL SWAP CLOSED NEGATIVE
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $1.23 per ton (2.86%) month over month to US$ 41.80 per ton. The ...
Monday, 19 October 15
RUSSIA MAJOR COAL MINER KRU CUTS 4.5 MLN T/YR "UNPROFITABLE" EURO SALES - JACQUELINE HOLMES
COALspot.com: Kuzbassrazrezugol (KRU), one of Russia's largest producers of high-quality coal, plans to cut its coal exports in 2016 by about 4 ...
Monday, 19 October 15
CFR SOUTH CHINA COAL SWAP CLOSED AT $48.68 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 55 (1.12 %) per ton month over month.
A commodity ...
Monday, 19 October 15
KOMIPO SEEKS 1.28 MILLION T/Y COAL FOR DEC 2015 - Q2 2016
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,280,000 Metric Tons (MT) of minimum 4,600 kc ...
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- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- White Energy Company Limited
- Australian Coal Association
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
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