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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, 09 February 15
Q2' CFR SOUTH CHINA COAL SWAP DECLINED 3.28% TO $ 56.92 W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 1.93 (-3.28%) per MT month over month and US$ 0.10 (-0 ...
Sunday, 08 February 15
BDI FELL CONTINUOUSLY HIT A THREE DECADES LOW
COALspot.com: This week Baltic Exchange Dry Freight Index (BDI) fell continuously hit a three decades low.
The BDI continuously fell and was d ...
Friday, 06 February 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 1.1% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 20.1 million short tons (mmst) of coal ...
Friday, 06 February 15
SHIP DAMAGED BY FIRE CAUSED BY PIRATES FOUND TO BE CONSTRUCTIVE TOTAL LOSS - TAYLOR WESSING
KNOWLEDGE TO ELEVATE
The High Court was asked to determine a number of preliminary issues, including whether a vessel was a constructive total ...
Thursday, 05 February 15
BDI HAS NOW FALLEN A LEVEL CLOSE TO THE INDEX'S HISTORIC LOW - INTERMODAL
They say a picture is worth a thousand words and in this instance just one look at the tables above is enough to understand the great pressure the ...
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- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- The University of Queensland
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
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