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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, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more car ...
Tuesday, 17 December 13
NEWCASTLE COAL EXPORTS UP 37.83% WEEK ON WEEK
COALspot.com: In the week ended December 16, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.45 ...
Monday, 16 December 13
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 0.53 IN A WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 0.91 pmt month on month on Friday 13 December 2013 ...
Monday, 16 December 13
API 8 CFR SOUTH CHINA COAL Q3' 14 DELIVERY PRICE CLOSED $1.63 LESSER THAN Q1' 14 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 5.34 percept month on month as on Friday 13 December 2013. ...
Sunday, 15 December 13
SUPRAMAX'S FREIGHT RALLY COMES TO AN END THIS WEEK
COALspot.com: The BDI was up by 7 pct closing at 2,330 points week on week and the cape index was also up by 10.51 points and closed at 4,246 points ...
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- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
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