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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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- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
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