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