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