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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, 16 September 13
WHAT RECOVERY MEANS FOR THE CAPESIZE MARKET - COMMODORE RESEARCH
COALspot.com: The simple fact that capesize rates have been able to increase above the $9,000/mark and become much more responsive to changes in car ...
Monday, 16 September 13
CFR SOUTH CHINA COAL SWAP: STABLE TO STEADY
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, 16 September 13
INDONESIAN SUB-BIT COAL SWAP STRUGGLING TO FINDS THE RIGHT PATH
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 0.75 percept month on month on Friday 13 Septe ...
Sunday, 15 September 13
CAPE FREIGHT RATES RISE ON HIGH DEMAND AND TIGHT AVAILABILITY - CAPT. REDDY
COALspot.com : The BDI, Cape and Panamax indices are continued to rise and saw a steep surge with average index in these segments up around 25 pct w ...
Friday, 13 September 13
US COAL OUTPUT SLIPS 3.34% ON-WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.20 million short tons (mmst) of ...
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- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
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