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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, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
Sunday, 01 March 15
BDI INDEX SLIGHTLY UP CAUSED AN INCREASE IN THE PANAMAX, SUPARAMAX AND HANDY SIZE INDICES
COALspot.com: The freight market saw some gains this week and BDI was up 5.26 pct closed at 540 points. However the Cape index failed to follow BDI ...
Friday, 27 February 15
WEEKLY US COAL PRODUCTION DOWN AN ESTIMATED 14.0% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 16.5 million short tons (mmst) of coal ...
Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. T ...
Thursday, 26 February 15
COAL POLICY RISK: HIGHER ROYALTIES FOR IUP HOLDERS - BAHANA SECURITIES | JAKARTA POST
The Energy and Mineral Resources Ministry plans to raise coal royalties charged to mining operation permit (IUP) holders by the end of the first qu ...
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- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Aditya Birla Group - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
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