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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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Thursday, 30 April 15
IRON ORE EXPORTS: A DANGEROUS RACE? - CLARKSONS
The surge in iron ore exports in recent years has resulted in a significant decrease in iron ore spot prices, which dipped to a ten year low of bel ...
Thursday, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied ...
Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecti ...
Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market ...
Tuesday, 28 April 15
FOB INDONESIA COAL SWAP DECLINED M-O-M; INCREASED W-O-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week but declined month on month.
The Q2 swap was declined US$ 0.15 ( ...
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- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Planning Commission, India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
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