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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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- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- The University of Queensland
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
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