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