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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, 01 June 15
35,000 MW POWER PLANTS TO BOOST COAL CONSUMPTION - JP
The government’s program to develop 35,000 megawatt (MW) power plants will increase domestic coal consumption, which currently stands at arou ...
Monday, 01 June 15
API 5 FOB NEWCASTLE COAL SWAP; Q1'16 CLOSED LOWER COMPARED TO Q3'15
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.36 per MT (0.80%) month over month. The swap was closed at US$ ...
Monday, 01 June 15
CFR SOUTH CHINA COAL SWAP: GAINED W-W, M-M; Q1'16 CLOSED HIGHER THAN Q3'15
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.15 (2.26%) per MT month over month.
A commodity swap is a f ...
Sunday, 31 May 15
CAPE AND PANAMAX SEGMENTS SLIDE CONTINUES
COALspot.com: The BDI was up about 0.5 pct week on week and closed at 589 points while the cape index was fell 0.73 pct and closed at 810 po ...
Friday, 29 May 15
DRY BULK MARKET IS THE VICTIM OF A SHIFT IN DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The fall in dry bulk freight rates is attributed, in large part, to the substantial decrease of China’s thermal coal imports, a major commodi ...
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- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- The University of Queensland
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
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