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