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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, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
Monday, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
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- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
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