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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, 27 October 14
CFR SOUTH CHINA COAL SWAPS PERFORMED POSITIVE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 1.68 (-2.55%) month over month and increased US$ 0.87 (+1.3 ...
Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
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- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
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