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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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Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
Monday, 30 March 15
Q3' 15 CFR SOUTH CHINA COAL SWAP: DECLINED 8.7% M-M; 12.77% Y-TO-D
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.00 (-8.70%) per MT month over month and US$ 1.33 (-2 ...
Monday, 30 March 15
Q2' FOB NEWCASTLE COAL SWAP CLOSED 4.47% HIGHER THAN Q4' CLOSING PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 5.42 per MT (-10.43%) month over month and US$ 1.60 (-3.32%) w ...
Sunday, 29 March 15
INDO - INDIA: SUPRAMAX & PANAMAX FREIGHT MARKET STEADY
COALspot.com: The freight market was almost stable as all segments slightly up except Panamax sector.
The BDI was up by just 0.85% week over w ...
Saturday, 28 March 15
IS NORTHERN EUROPE THE NEW MINING ELDORADO?
The Europe Mining 2015 Summit, organised by Global Summits organizer IRN on 17-18 June in Amsterdam, The Netherlands, will gather senior level repr ...
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- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Australian Coal Association
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
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