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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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Tuesday, 18 March 14
SECOND QUARTER SUB-BIT FOB INDONESIA COAL SWAP LOST 3.27% IN A MONTH
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 18 March 14
NEWCASTLE COAL EXPORT VOLUME FALLS 26.23% WEEK ON WEEK
COALspot.com: In the week ended 17 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 17 March 14
API 8 CFR SOUTH CHINA COAL SWAPS FOR AVERAGE Q2 14 DELIVERIES LOST 2.59% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.59 percent month on month and closed at US$ 74.15 per mt as o ...
Sunday, 16 March 14
BDI DOWN ON LOW CAPESIZE ACTIVITY
COALspot.com: The freight market was slightly soft this week with BDI down by 4.28 pct week on week. The BDI closed at 1,477 points and the cape ...
Friday, 14 March 14
DRY BULK MARKET ENTERS RECOVERY MODE, ON INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has entered and sustained higher ground as of this week, on the back on increased Capesize demand. Although the situation in ...
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- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
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