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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, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
Tuesday, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
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- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- PTC India Limited - India
- Planning Commission, India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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