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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, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has fell US$ ...
Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
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- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
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