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