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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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Wednesday, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...
Monday, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
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, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...
Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...
Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia.
With the cooperation of ...
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- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- The Treasury - Australian Government
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Australian Coal Association
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
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