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