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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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Wednesday, 19 August 15
FOB INDONESIA COAL SWAPS CONTINUE FLAT TREND LINE THIS WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and flat week over week, this past week.
The 4Q swap was decli ...
Tuesday, 18 August 15
DRY BULK: MARKETS HAVE CONTINUED TO BE SEVERELY CHALLENGED - CLARKSONS
The dry bulk markets have continued to be severely challenged with freight rates falling during the period to below operating expense. The Baltic D ...
Tuesday, 18 August 15
1Q'16 FOB RICHARDS BAY COAL SWAP FALLS BELOW $54 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 18 August 15
2Q' 16 FOB NEWCASTLE COAL SWAP CLOSED AT $43 PER MT W/E 14 AUGUST
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.08 per MT (-2.46%) month over month to US$ 42.82 per mt. The swap ...
Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest imp ...
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- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- The University of Queensland
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
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