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