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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, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
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- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
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