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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, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
Monday, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
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- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- The University of Queensland
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- White Energy Company Limited
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
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