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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, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
Monday, 30 June 14
INDO - INDIA FREIGHT RATES CONTINUE TO WEAK
COALspot.com: The latest dry Index shows that average all-in spot freight declined, the Panamax and Supramax slipping by 9.11 percent and 4% respec ...
Friday, 27 June 14
DRY BULK MARKET STILL LOOKING FOR UPSIDE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept up its lacklustre performance during the past week, as evidenced by the course of the Baltic Dry Index (BDI). The BDI ...
Thursday, 26 June 14
PANAMAX : A PACIFIC ROUND PAYS AROUND US$ 3K DAILY - FEARNLEYS AS
Handy
In the Atlantic there has been little activity which again has caused rates to slip across all trades. TA´s are now down to US$ 5,500 ...
Thursday, 26 June 14
KOMIPO INVITES BIDS FOR TOTAL 750K MT OF BITUMINOUS COAL FOR 3CY
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) has issued a new tender for supply of total 250,000 MT of bituminous co ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
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