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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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Tuesday, 07 July 15
FOB NEWCASTLE COAL SWAP ADVANCED MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.28 per MT (-0.61%) month over month to US$ 45.85 per mt. The swap wa ...
Monday, 06 July 15
KOREA MIDLAND POWER COMPANY LIMITED ISSUED A TENDER FOR 250K MT BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 250K Metric Tons (MT) of 5300 kcal/kg NAR coal ...
Monday, 06 July 15
COAL TRADING & RISK MANAGEMENT TRAINING COURSE
Are you ready to invest in yourself and take your trading and risk management strategy to the next level? The Coal Trading & Risk Management Tr ...
Monday, 06 July 15
CFR SOUTH CHINA COAL SWAP; DECLINED D-O-D,W-O-W AND M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.53 (1.01%) per MT month over month.
A commodity swap ...
Sunday, 05 July 15
THE BALTIC DRY INDEX WAS DOWN 18%; PANAMAX UP 9%
COALspot.com: The freight market was soft during this week. However indices closed slightly firmer end of the week on 3rd July.
The BDI was do ...
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- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
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