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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, 16 June 14
API 8 CFR SOUTH CHINA COAL SWAPS FALL CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.34 percent month on month and closed at US$ 71.05 per mt a ...
Sunday, 15 June 14
COAL FREIGHT RATES FALL FURTHER ON LACK OF DEMANDS - CAPT. REDDY
COALspot.com: The BDI softened this week as all segments fell this week. The Panamax sector being most affected. The Cape index was down 3.51 pct w ...
Friday, 13 June 14
US COAL PRODUCTION FELL 3% IN WEEK THAT ENDED JUNE 7, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yest ...
Thursday, 12 June 14
INDONESIA SETS HBA FOR MONTH OF JUNE AT US$ 73.64
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised up first time in last four months the coal bench mark price. ...
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- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Minerals Council of Australia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Australian Coal Association
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
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