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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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Friday, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
Thursday, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
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- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- VISA Power Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
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