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