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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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Tuesday, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
Sunday, 19 May 13
COAL PRICES ARE SLUMPING DUE TO WEAK DEMAND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.03 percent and API 8 CFR South China Coal shipment g ...
Sunday, 19 May 13
FREIGHT RATES TO REMAIN UNSTABLE AND VOLATILE - CAPT. REDDY
COALspot.com – The freight remained weak this week with all the segments down.
The BDI, the Baltic Dry Index is a number issued daily by th ...
Friday, 17 May 13
US COAL PRODUCTION CLIMBED 3.35 PER CENT WEEK ON WEEK
COALspot.com - U.S. produced totaled approximately 18.50 million short tons (mmst) in a week (For the week ended May 11, 2013), EIA said in its late ...
Thursday, 16 May 13
PANAMAX: THE FORWARD CURVE IS FALLING GRADUALLY - FEARNRESEARCH
Handy
The Atlantic market remained quiet. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The Pacific market remained uncertain as ...
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- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
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