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