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