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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
 COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1.42 per ton in May 2011.
This coal benchmark was calcualted coal with calorie of 6,322kcal/kg (GAR), stated to be using formula based on the May 2011 index average of ICI-1 (Indonesia Coal Index), Platts-1, NEX (Newcastle Export Index), and GC (globalCoal Index).
Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur 0.8%, Ash Content 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 - 30 June 2011.
The government of Indonesia has been publishing a monthly coal reference price (HBA) since February 2010 to be used by coal producers for all future spot and term contracts. The June HBA was 22.43 percent higher Y-o-Y.
The price is only valid for spot price, while as for term price, the benchmark is using the average of recent 3 months benchmark prices and valid for coal contract at least 12 months.
Government also declared reference price for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands are act as benchmark and used to calculate other 54 coal types with a quality similar to the coal price markers.
For sales in barge, the reference price is reduced by barging and transshipment costs from barge to vessel.
The coal reference price, which has been established to fulfill the requirement of mining law 04/2009 and latest ministerial decree 17/2010 and also aims to increase government revenue from royalties from coal producers. According to industry, all existing coal supply agreements with Indonesian coal mining companies will have to be revised to comply with new coal pricing regulations before September 23, 2011.
As a result of the Indonesian new pricing formula, price of Indonesian coal will go up by $30 a tonne and lead to a INR 0.70 (Approx. US$ 0.015) per unit increase in cost of electricity generation, as quoted by an Indian paper.
Indonesian coal prices are also gaining on a shortage of coal in China to meet summer demand, said a coal trader from Kalimantan. Chinese local media reported that, Beijing may cut the 17 percent value-added tax and port charges on imported coal to encourage more overseas purchases. China is now facing its worst summer power shortage in seven years, as quoted by Chinese as well as International medias.
Indian high energy demand also has influenced the coal prices in recent weeks says another coal trader from Jakarta.
Click here for complete details of Indonesian coal reference prices since Feb 2010.(cs)
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Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
Monday, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
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- SMC Global Power, Philippines
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- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
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- Marubeni Corporation - India
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- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
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- Indian Energy Exchange, India
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- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
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- Ministry of Finance - Indonesia
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- Independent Power Producers Association of India
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- PowerSource Philippines DevCo
- The Treasury - Australian Government
- ICICI Bank Limited - India
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- The University of Queensland
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- White Energy Company Limited
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- Orica Australia Pty. Ltd.
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
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- GVK Power & Infra Limited - India
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- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Dalmia Cement Bharat India
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- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- LBH Netherlands Bv - Netherlands
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- GMR Energy Limited - India
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- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
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- PTC India Limited - India
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- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
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- Bhoruka Overseas - Indonesia
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- The State Trading Corporation of India Ltd
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- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
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- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
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- Alfred C Toepfer International GmbH - Germany
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- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
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- Posco Energy - South Korea
- Carbofer General Trading SA - India
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- Indonesian Coal Mining Association
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