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