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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, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
Monday, 07 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAINED 2.09% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 2.09 percent month on month and closed at US$ 75.68 per ...
Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING
COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall r ...
Friday, 04 April 14
UNITED STATES COAL OUTPUT UP 5.4% IN PAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.9 million short tons (mmst) of coal i ...
Thursday, 03 April 14
PANAMAX SECTOR IS WATCHING A SEVERE DROP IN RATES - FEARNLEYS
Handy
A further weaker sentiment for the Supras as well in both hemispheres this week with oversupply of tonnage being the major headline. Tra ...
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- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
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