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