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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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Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
Tuesday, 24 December 13
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS UP 11.46% W-W
COALspot.com: In the week ended December 23, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.84 ...
Tuesday, 24 December 13
SGX HAS LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore Exchange (SGX) has announced the launch of freight future yesterday.
According to SGX’s press release, SGX has laun ...
Monday, 23 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q1' 14 CLOSED AT $ 82.80
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 2.97 percept month on month as on Friday 20 December 2013. ...
Sunday, 22 December 13
Q1' 14 DELIVERY COAL SWAPS CLOSING HIGH COMPARED TO Q4' 14 DELIVERY CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 1.31 pmt month on month on Friday 20 December 2013 ...
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- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- VISA Power Limited - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
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