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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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Thursday, 26 February 15
DRY BULK MARKET LOOKING FOR POSITIVE MOMENTUM, BUT PROSPECTS REMAIN DIM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the Baltic Dry Index (BDI) inched a bit higher over the past couple of sessions and the Chinese are returning to the market after a week long hi ...
Wednesday, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Australian Coal Association
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- VISA Power Limited - India
- The University of Queensland
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
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