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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, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
Monday, 22 September 14
CFR SOUTH CHINA COAL SWAPS LOST ON DAY, WEEK AND MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 3.10 (-4.50%) month over month and $ 0.95 PT MT week over ...
Monday, 22 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.35 (+0.69%) day on day and lost US$ 0.30 (-0.58%) per mt week on week. ...
Sunday, 21 September 14
CAPE INDEX LOST 17% W-O-W ; BALTIC DRY PLUNGES 106 POINTS
COALspot.com: This week the freight market softened a bit compared to last week.
BDI fell 8.97% week on week and closed BDI at 1075 points on ...
Friday, 19 September 14
U.S. WEEKLY COAL PRODUCTION RELATIVELY FLAT AT +0.1% - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
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- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
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