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