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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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Friday, 05 June 15
U.S PRODUCED 15.1 MMST OF COAL THIS PAST WEEK; LESS 20.7% COMPARED TO SAME PERIOD IN 2014
COALspot.com – United States the second largest coal producer in the world has produced approximately totalled an estimated 15.1 million shor ...
Thursday, 04 June 15
DRY BULK MARKET FAILED TO OFFER ANY POSITIVE SURPRISES - INTERMODAL
COALspot.com: This has been another week that the Dry Bulk market failed to offer any positive surprises, while the BDI, which is still faring belo ...
Wednesday, 03 June 15
SHIPPING MARKET INSIGHT - VASSILIS LOGOTHETIS
For some time now the Dry Bulk market has been severely affected by China’s slowing GDP growth rate that occurs in the background of increase ...
Tuesday, 02 June 15
FOB INDONESIA COAL Q3 SWAP ADVANCED 1.73% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and lost week over week, this past week.
The Q3 swap was climbed ...
Tuesday, 02 June 15
FOB RICHARDS BAY COAL SWAPS; Q3'15 CLOSED HIGHER THAN Q1'16
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 up month over month and week over week.
The Q3 swap was up US$ 0.80 (1 ...
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- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- The Treasury - Australian Government
- Anglo American - United Kingdom
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