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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, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
Sunday, 14 September 14
FREIGHT RATES RALLY AS DEMAND INCREASED
COALspot.com: The Baltic Dry Index (BDI) is a number (in US$) issued daily by the London-based Baltic Exchange up 2.25 percent week on week. BDI cl ...
Friday, 12 September 14
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 673.3 MMST, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 11 September 14
THE PANAMAX MARKET IS TAKING A BREATHER - FEARNLEYS
Handy
We have experienced more activity in both hemispheres this week, said Fearnleys in this week's weekly report.
"We see rates c ...
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occur ...
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- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- PTC India Limited - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
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