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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, 15 June 15
API 5 FOB NEWCASTLE COAL SWAP: Q1'16 DELIVERY CLOSED 1.14% LOWER THAN Q4'15 DELIVERY PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 1.10 per MT (2.47%) month over month to US$ 45.67 per mt. The swap ...
Monday, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
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- PTC India Limited - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
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