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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, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
Monday, 18 May 15
Q1' 16 API 8 CFR SOUTH CHINA COAL SWAP CLOSED HIGHER THAN Q3' 15 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.05 (2.10%) per MT month over month and US$ 0.53 (1.05%) pe ...
Sunday, 17 May 15
INDONESIA - INDIA FREIGHTS RATES EXPECTED TO FLAT TO SOFT NEXT WEEK
COALspot.com: The BDI was up by 10.45% and closed at 634 points week on week, while the Cape index saws big jump or up almost 55% for the same peri ...
Friday, 15 May 15
DRY BULK AND CONTAINER SHIPPING TO REMAIN WEAK, OUTLOOK FOR PORTS AND TANKERS POSITIVE - DREWRY MARITIME EQUITY RESEARCH
Global economy is in a gradual recovery mode, sending mixed signals to investors. Chinese economic data continues to remain weak as economy transit ...
Friday, 15 May 15
COAL PRODUCTION IN U.S DOWN 1.4 MILLION TONS FOR THE WEEK ENDING MAY 8
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
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- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- The University of Queensland
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Planning Commission, India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- GMR Energy Limited - India
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