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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, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
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