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