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