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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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Friday, 31 July 15
CAPE'S PAPER MARKET REMAINS FIRM - INTERMODAL
COALspot.com: The positive sentiment that the Dry Bulk market has been enjoying as of the previous month, was carried through last week as well, bu ...
Friday, 31 July 15
COAL PRODUCTION IN THE U.S. UP 3.6% FOR THE WEEK ENDING JULY 25
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector p ...
Thursday, 30 July 15
EFFECTS OF THE CHINESE STOCK MARKET CRISIS - INTERMODAL
All evidence is currently signaling that the Chinese stock market will be the newest hurdle for the global economy. With the world's second lar ...
Wednesday, 29 July 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED HIGHER THAN Q3'15
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and gains week over week, this past week.
The Q3 swap was decl ...
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- Minerals Council of Australia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- The University of Queensland
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
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