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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, 04 August 14
Q1' 15 API 8 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 69.37 ON 1 AUGUST 2014; A $ 1.10 HIGHER COMPARED TO Q4' 2014 CLOSING
COALspot.com: Coal swap prices are showing a positive move upward this past week. API 8 CFR South China Coal swap for Q4, Q1 and Q2 2015 show ...
Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
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- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- The University of Queensland
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
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