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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, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
Monday, 17 November 14
INDONESIAN COAL PRICE REFERENCE CONTINUES FREE FALL; SLUMPS TO 69-MONTH LOW
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in November. HBA for t ...
Monday, 17 November 14
API 5 FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT $ 52.75
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery has decreased US$ 1.77 (-3.25%) month over month and US$ 0.02 (-0.04%) day ...
Monday, 17 November 14
SOUTH CHINA COAL SWAP SLIGHTLY INCREASED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.73 (-2.67%) month over month and US$ 0.10 (-0.16%) da ...
Sunday, 16 November 14
THE BDI LOST 12.59% WEEK ON WEEK; THE BCI LOST 19.95%
COALspot.com: The BDI fell 12.59 percent to 1256 point week on week on Friday 14 November. All the segments were also most down this week. The cape ...
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- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Parliament of New Zealand
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- Planning Commission, India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
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