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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, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
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- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
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