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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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- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Independent Power Producers Association of India
- Australian Coal Association
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Planning Commission, India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
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