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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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Sunday, 13 October 13
API 8 CFR SOUTH CHINA COAL - AVERAGE Q4 2013 DELIVERY FELL 0.30 PERCEPT ON WEEK
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.30 percept week on week on Friday 11 October 2013. The CFR South ...
Saturday, 12 October 13
PANAMAX: OWNERS ARE AT US$ 17-18.5K PER DAY; CHARTERERS ARE AT US$ 15.5-16K - CAPT. REDDY
COALspot.com - The futures market was heavily down on the cape size vessels and the physical average charterer rates on cape size vessels dropped by ...
Friday, 11 October 13
DRY BULK FREIGHT RATE POSITIVE MOMENTUM TO BE SUPPORTED BY HIGHER DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO released its latest short term research on the shipping markets, estimating that the elevated level of Capesize TC average rates i ...
Friday, 11 October 13
US COAL PRODUCTION FALLS 7.70% IN SEPTEMBER
COALspot.com – United States the world’s second largest coal producer produced approximately 17.70 million short tons (mmst) of coal in ...
Thursday, 10 October 13
NPC AUSTRALIA SHIPPED 2.99 MILLION TONS OF COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 12.04 per cent week on week to 2.99 million mt for ...
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- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Thai Mozambique Logistica
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