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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, 05 January 15
CFR SOUTH CHINA COAL SWAPS GAINED WEEK OVER WEEK, SGX DATA SHOWS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 2.50 (-4.02%) month over month and gained US$ 0.20 ( ...
Monday, 05 January 15
FIVE ENERGY SURPRISES FOR 2015: THE POSSIBLE AND THE IMPROBABLE - KURT COBB
The coming year is likely to be as full of surprises in the field of energy as 2014 was. We just don't know which surprises! I am not predictin ...
Monday, 05 January 15
THE SHIPPING MARKET IN 2014 AND LOOKING FORWARD - BIMCO
2014 started with plenty of optimism for a considerably better global economy and an improved shipping market. Things turned out somewhat different ...
Monday, 05 January 15
API 5 FOB NEWCASTLE COAL SWAP FOR Q1'15 DELIVERY CLOSED US$ 0.45 HIGHER COMPARED TO Q2'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 0.60 per MT (-1.15%) month over month and gained US$ 0.02 (+0.04%) ...
Sunday, 04 January 15
BALTIC DRY INDEX CONTINUES ITS DECLINE IN 2015
Wish you all a very Happy New Year 2015. The last report was dated 19th Dec 2014 and due to Christmas and new year holidays no reports were publish ...
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- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Australian Coal Association
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
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