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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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Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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