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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, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
Tuesday, 16 December 14
THIS PRICE IS A STEAL - EVA TZIMA
COALspot.com: Despite concerns that the slowdown of the Chinese economy would affect imports of iron ore, it seems that this has not been the case ...
Tuesday, 16 December 14
FOB RICHARDS BAY COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT US$ 65.60 PMT
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 0.18 (-0.27%) month on month ...
Tuesday, 16 December 14
SUB-BIT FOB INDONESIA COAL SWAP CONTINUES ITS FALL
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 1.7 ...
Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from develo ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Planning Commission, India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
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