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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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- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
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