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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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Wednesday, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. ...
Wednesday, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high- ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
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- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- The University of Queensland
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
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