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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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Monday, 20 July 15
CFR SOUTH CHINA COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.18 (2.27%) per MT month over month.
A commodity swap ...
Sunday, 19 July 15
BDI GAINED AND CROSSED 1000 MARK THIS WEEK
COALspot.com: The BDI gained and crossed 1000 mark after many months this Friday. The BDI was up almost 20 pct and closed 1048 points on 17 July 20 ...
Saturday, 18 July 15
INTERVIEW : FRANZ ESCALANTE, CHIEF OF INFORMATION SYSTEMS, MINERA CHINALCO, PERU
We are interested in the technology of Autonomous trucks, the new-generation trucks are not remote controlled, they are truly autonomous - Franz Es ...
Friday, 17 July 15
COAL PRODUCTION IN THE U.S. INCREASES SHARPLY FOR THE WEEK ENDING JULY 11
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.4 million short ...
Friday, 17 July 15
INDONESIAN POWER-STATION COAL SWAPS DECLINE CONTINUES THIS PAST WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
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- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
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