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