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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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Tuesday, 09 December 14
API 8 CFR SOUTH CHINA COAL SWAPS FELL 1.8% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.84 (-2.91%) month over month and US$ 0.95 (-1.52%) we ...
Monday, 08 December 14
GOVERMENT TO WITHDRAW CNC STATUS OVER SUSPECTED FLAWS - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to review the clean and clear (CnC) status held by ...
Monday, 08 December 14
FOB NEWCASTLE COAL SWAPS SLIP W-O-W AND M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.10 on 5 December after losing US$ 0.55 (-1.04%) month over ...
Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
The BDI lost around14.83 pct within last five working day an ...
Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
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- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Coalindo Energy - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
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