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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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Sunday, 18 October 15
THE BDI AND OTHER INDICES CLOSED OFF ON NEGATIVE NOTE THIS FRIDAY
COALspot.com: The BDI closed off on negative note this Friday compared to previous Friday's closing.
The BDI closed this Friday (16 Octobe ...
Friday, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its ...
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- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- The University of Queensland
- Planning Commission, India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
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