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