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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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Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
Tuesday, 10 March 15
FOB NEWCASTLE COAL SWAPS HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 0.24 per MT (-0.47%) month over month and US$ 1.52 (-2.93%) we ...
Tuesday, 10 March 15
CFR SOUTH CHINA POWER-STATION COAL SWAPS DECLINE
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery fell US$ 0.42 (-0.74%) per MT month over month and declined US$ 1.00 &nbs ...
Monday, 09 March 15
INDONESIA GREETS INDIA RATE CUT AS GOOD FOR EXPORTS - GLOBEASIA
Indonesian commodity producers and economists have hailed the Indian central bank’s rate cut as good for boosting exports from Southeast Asia ...
Monday, 09 March 15
CHINA'S SUPREME COURT ISSUES NEW JUDICIAL INTERPRETATION ON SHIP ARREST AND JUDICIAL SALE OF SHIPS - GARD
KNOWLEDGE TO ELEVATE
China is not traditionally a popular jurisdiction for ship arrest. However, Members and clients with ships calling at por ...
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- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Australian Coal Association
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
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