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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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Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
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- Energy Development Corp, Philippines
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- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
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- Heidelberg Cement - Germany
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- Eastern Coal Council - USA
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- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
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- Ministry of Finance - Indonesia
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- Indian Oil Corporation Limited
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- Indonesian Coal Mining Association
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- Bhushan Steel Limited - India
- Parliament of New Zealand
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- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
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- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
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- CNBM International Corporation - China
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- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
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- Interocean Group of Companies - India
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- AsiaOL BioFuels Corp., Philippines
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- Bhoruka Overseas - Indonesia
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- TeaM Sual Corporation - Philippines
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- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
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- Bukit Baiduri Energy - Indonesia
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- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
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- Videocon Industries ltd - India
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- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- MS Steel International - UAE
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- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
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