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