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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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Monday, 07 October 13
SGX - CFR SOUTH CHINA COAL SWAPS END ALMOST FLAT
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Monday, 07 October 13
Q3'14 SUB-BIT FOB INDONESIA COAL SWAP CLOSED 6.53% HIGHER THAN Q4'13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery gained 0.53 % on day and fell 2.33 percept month on month ...
Sunday, 06 October 13
DRY BULK FREIGHT MARKET STAYS STEADY IN SPITE CHINESE HOLIDAYS - SOLYM CARRIERS SINGAPORE
COALspot.com: The freight market continued to remain firm in spite of Chinese holidays.
The BDI closed at 2,084 points on Friday 4 October or up ...
Saturday, 05 October 13
CAPESIZE EARNINGS SKYROCKET AS A RESULT OF INCREASED CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
An increased iron ore demand has triggered this latest dry bulk rally, which could get yet another boost during next week, when China is expected to ...
Friday, 04 October 13
NICKEL ORE SHIPMENTS - LESSONS LEARNED FROM LOSSES
One of the most pressing problems for the bulk shipping industry is the safe carriage of nickel ore. The increasing demand for this commodity is fue ...
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- Bhatia International Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Carbofer General Trading SA - India
- Australian Coal Association
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
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