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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, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
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- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
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