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