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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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Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
Wednesday, 14 January 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In Oil we trust! The Barrel price has declined by almost a third in comparison to the 2014 January and has being on the downhill since early last s ...
Wednesday, 14 January 15
COMMODITIES AREN'T PRIMED FOR A REBOUND DURING 2015: SHIPPING COULD BENEFIT FROM LOWER PRICES - ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In the recent past, higher commodity prices were driven by an increase in demand from developing countries, which spelled good news for ship owners ...
Wednesday, 14 January 15
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week.
The Q1 swap has fell US$ 1.53 (-3.15 ...
Wednesday, 14 January 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED 4.51% LOWER COMPARED TO Q1' 15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.56 per MT (-3.0%) month over month and US$ 1.03 (-2.0%) week ove ...
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- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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