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Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
 COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fall by 6.43 percent, the lowest dropped in last 16 Months.
The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price benchmark for April 2012 at US$ 105.61 per ton, US$ 7.26 lower than March 2012 Price.
This coal benchmark price was calculated coal with calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the March 2012 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% (arb), Ash Content 15 % (arb) and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 - 30 April 2012.
The government of Indonesia has been publishing a monthly coal reference price (HBA & HPB) since January 2009 to be used by coal producers for all future spot and term contracts. However the full implementation of HBA has started only since September last year.
The April HBA was 13.44 percent lower on Y-o-Y basis.
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The price was only valid for the spot price, while as for term price, the average reference price (HPB) of the previous 3 months. (50% of latest available month HPB, 30% of one month prior HPB and 20% of two months prior HPB).
Government also declared reference price for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands are acted as the benchmark and used to calculate other 62 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 have revised to comply with new coal pricing regulation, which was fully implemented on 23 September 2011.
Indonesian government also drafting a regulation to ban coal with calorific value below 5700 kcal/kg on air basis for the export market by 12 January 2014 dried (according to the draft regulation posted on djmbp website). Indonesian coal producers were asked to add value for their product such as washing, crashing, blending and upgrading to have a higher-value product prior to eye on the export market.
Raw coal export will also be restricted once the regulation issued. The government has also issued a regulation (24/2012) which will limit foreign ownership in mines to 49 percent within 10 years of production.
Indonesia also planning to impose a 25 percent export tax on coal and base metals this year, and 50 percent in 2013.
However, we expect this export tax may not be introduced immediately due to the majority of coal production or exports (70 - 80 percent of Indonesian total coal production or export) are coming from CCoW holders. Under CCoW agreement which was signed between the coal mine contractors and government was not allowing any new duties or taxes on CCoW holders.
Hence government has to convert CCoW to IUP prior to introduce any new taxes or duties, if government want to enjoy benefits from all the coal exports from Indonesia. However, IUP holders are subject to any new taxes or duties. Hence we expect government will focus first to convert the CCoW to IUP rather than introducing any new taxes or duties.
The basis for renegotiation is Law No. 4 /2009 on mining, which has changed the mining-concession regime by introducing a new licensing system (IUP). The law replaces mining authorizations (Kuasa Pertambangan or KP) as well as contracts of work (CoWs) and contracts of coal mining work (CCoW or PKP2B).
According to government officials, number of or majority of CCoW holders are willing to convert CCoW to IUP but the discussions are still on the way. The Ministry of Energy & Mineral Resources of Indonesia wants to complete all the conversion by end of this year.
In coming months Indonesian coal industry can see a number of new regulations.
Click here for complete details of Indonesian coal reference prices since Jan 2009.(cs)
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Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
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- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Bangladesh Power Developement Board
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- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
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- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Australian Coal Association
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- Directorate General of MIneral and Coal - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
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- Indian Energy Exchange, India
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- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
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- Ministry of Mines - Canada
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- White Energy Company Limited
- The State Trading Corporation of India Ltd
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- GN Power Mariveles Coal Plant, Philippines
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- Trasteel International SA, Italy
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- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
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- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
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- Malabar Cements Ltd - India
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- Jorong Barutama Greston.PT - Indonesia
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- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
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- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
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- Thai Mozambique Logistica
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- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
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- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
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- Economic Council, Georgia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- London Commodity Brokers - England
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