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