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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, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
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- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
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- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
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