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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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Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
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- Aditya Birla Group - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- The University of Queensland
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
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