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