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