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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, 09 June 15
FOB RICHARDS BAY COAL SWAPS DECLINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was fell US$ ...
Monday, 08 June 15
SHIPPING FLEET GROWTH HAS STARTED TO SLOW DOWN, AS NEWBUILDINGS AMOUNT TO JUST 329 SHIPS OF ALL TYPES SINCE THE START OF 2015 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Challenging market conditions have led to the inevitable reconsideration of ship owners’ priorities. Uncertainty has been the norm over the p ...
Monday, 08 June 15
API 5 FOB NEWCASTLE COAL SWAPS ADVANCED M-O-M AND W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery increased US$ 0.65 per MT (1.44%) month over month to US$ 45.65 per mt. The ...
Monday, 08 June 15
Q3'15 CFR SOUTH CHINA COAL SWAP ADVANCED 3.51% TO $52.48 PMT THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.78 (3.51%) per MT month over month.
A commodity swap is a ...
Sunday, 07 June 15
PANAMAX INDEX ROSE OVER 13% THIS WEEK
COALspot.com: The freight market was up on all segments this past week. The BDI was advanced 3.56% and closed at 610 points. The Cape Index was cli ...
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- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Planning Commission, India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
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