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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, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
Tuesday, 15 April 14
NEWCASTLE SHIPPED MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 14 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 14 April 14
SUB-BIT FOB INDO COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT US$ 60.12 PER MT
COALspot.com: Indonesian coal swaps for average Q4’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 14 April 14
INDONESIA'S Q1 COAL PRODUCTION LITTLE CHANGED EVEN WITH PRICE DROP - INVESTOR DAILY
Indonesia’s coal production by volume in the first quarter remained little changed from the same period last year despite the decline in t ...
Monday, 14 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAIN FOR THE MONTH & WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 4.61 percent month on month and closed at US$ 76.18 per mt as ...
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- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Planning Commission, India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
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