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