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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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Tuesday, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
Monday, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
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- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Baramulti Group, Indonesia
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