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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, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
Tuesday, 21 April 15
SUB-BIT FOB INDONESIA COAL SWAP: GAINED W-O-W; DECLINED M-O-M
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week and declined month on month.
The Q2 swap was declined US$ 1.75 ( ...
Tuesday, 21 April 15
FOB RICHARDS BAY COAL SWAP MOVE UP SLIGHTLY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased slightly month over month.
The Q2 swap has increased US$ 0.2 ...
Monday, 20 April 15
BUKIT ASAM TAKES OVER STAKE IN JV FROM RAJAWALI - JP
State-owned coal miner PT Bukit Asam (PTBA) announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created ...
Monday, 20 April 15
FOB NEWCASTLE COAL SWAP GAINED WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.54 per MT (-7.21%) month over month and gained US$ 0.30 week ...
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- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
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