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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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Thursday, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overa ...
Thursday, 16 April 15
INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 - PTI
India’s coal imports in the just concluded FY 2015 increased by 33 per cent to about 240 million tonnes.
“Coal import have gone up ...
Thursday, 16 April 15
CAPESIZE: THE SUPPLY AND DEMAND SIDE ARE NOW SUFFERING HEAVILY - FEARNLEYS
Handy
It seems to be some standoff between owners and charterers in both hemispheres this week. Owners are raising their rates while charterers a ...
Thursday, 16 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.67 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month.
The Q2 swap has declined US$ 1.90 (3.17%) m ...
Wednesday, 15 April 15
PORT OF NEWCASTLE SHIPPED 13.63 MMT OF COAL IN MARCH; UP 4.41% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.227 billi ...
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- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- The University of Queensland
- Bhatia International Limited - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
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