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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, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
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- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Australian Coal Association
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
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