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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, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
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- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
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