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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, 21 January 14
PORT OF NEWCASTLE SHIPPED SLIGHTLY MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 20 January 14, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2. ...
Monday, 20 January 14
SUB-BIT INDONESIA COAL SWAP SEEN LOWER IN 2ND HALF OF 2014
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.78 pmt month on month on Friday 17 January 2014. T ...
Monday, 20 January 14
THE CFR SOUTH CHINA COAL MARKET APPEARS TO HAVE LOST DIRECTION
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 4.25 percept month on month and closed at US$ 79.48 per mt as ...
Sunday, 19 January 14
FREIGHT MARKETS SEE CONTINUED WEAK PERFORMANCE
COALspot.com: The market has continued to soften particularly in the far East/SE Asia sector.
The BDI was down 6 pct week on week, the index was ...
Friday, 17 January 14
US COAL PRODUCTION DOWN WEEK ON WEEK: EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.3 million short tons (mmst) of co ...
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- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
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