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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, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each econom ...
Tuesday, 12 May 15
FOB INDONESIA COAL SWAP; DECLINED M-O-M AND W-O-W
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 0 ...
Tuesday, 12 May 15
FOB RICHARDS BAY COAL SWAPS: LOST W-O-W; GAIN M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and decreased week over week.
The Q3 swap h ...
Monday, 11 May 15
DRY BULK CARRIER ORDERS CRASH TO A TWENTY YEAR LOW - CLARKSONS
In the last four months dry bulk orders have fallen to 0.4m dwt per month, the lowest level since the 1990s. This is a massive 98% reduction from t ...
Monday, 11 May 15
HBA PRICE DIPS FURTHER; LOWEST RECORDED SINCE JANUARY 2009
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 61.08 per MT in May ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- The University of Queensland
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
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