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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, 15 September 15
Q2'16 RICHARDS BAY COAL SWAPS DIP TO $ 51.10 PER TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
Tuesday, 15 September 15
API 5 FOB NEWCASTLE COAL SWAP FOR 4Q' 2015 DELIVERY CLOSED AT $42.71 PER TON ON 11 SEPT, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.94 per MT (-2.15%) month over month to US$ 42.71 per mt. The sw ...
Monday, 14 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP DECLINED $1.80 PMT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.62 (3.21 %) per MT month over month.
A commodity ...
Monday, 14 September 15
MOODY'S LOWERS COMMODITY PRICE ASSUMPTIONS ON MACRO, INDUSTRY FACTORS
COALspot.com: Moody's Investors Service has lowered its base metal price assumptions for 2015-17 as slowing growth in China, lower oil prices, ...
Sunday, 13 September 15
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI decreased further by 6.51 per cent or 57 points since last Friday and closed at 818 on 11 September 2015 while the cape index ...
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- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- The University of Queensland
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
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