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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, 10 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
COALspot.com: The BDI was down by 1.71 pct and closed at 1091 points week ended 7 February 2014. The BDI seemed to reach the bottom as the cape inde ...
Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law ...
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- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
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