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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, 18 March 15
Q2 INDONESIAN COAL SWAP DROP 1.45% M-O-M; GAIN 0.63% W-O-W
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and gained week over week.
The Q2 swap fell US$ 0.70 (1.45%) ...
Tuesday, 17 March 15
GAS TO CHALLENGE COAL IN THE ASIAN POWER GENERATION MIX - WOOD MACKENZIE
KNOWLEDGE TO ELEVATE
Wood Mackenzie says that coal is facing increasing competition from gas in the power sector. Coal has dominated as the fu ...
Tuesday, 17 March 15
RIO TINTO PAID US$ 7.1 BILLION IN TAXES IN 2014
COALspot.com: Rio Tinto has published its latest Taxes paid report, detailing the US$7.1 billion in taxes paid by the company around the world in 2 ...
Tuesday, 17 March 15
NEARLY 17% OF US COAL PRODUCTION UNECONOMIC AT CURRENT MARKET PRICING - WOOD MACKENZIE
COALspot.com: Close to 17% of forecast 2015 US coal production is at risk of idling or closure, totalling 162 million short tons (Mst), as these mi ...
Tuesday, 17 March 15
Q3' SA COAL SWAP CLOSED $57.30 PMT W/E 13 MARCH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and gained week on week.
The Q2 swap has fe ...
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- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Australian Coal Association
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Posco Energy - South Korea
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
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