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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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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Planning Commission, India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- The University of Queensland
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
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