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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, 29 September 13
SUB-BIT INDONESIA COAL SWAP FELL ON MONTH AND WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 3.93 percept month on month on Friday 27 September 2 ...
Friday, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
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- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
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