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Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
 COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain since March 2012.
The monthly coal reference price for coal sales this month gain 1.84 percent from last month. August HBA was the lowest since September 2010, but September HBA took a "U" turn on positive direction. However this gain is really going to reflect the current market or going to improve the cuurent conditions of miners is subject to debatable. Coal producers are struggling to manage their coal mines due to low demand and price. The current high International oil prices are pushing production cost upward, however in the meantime, buyers are looking for lower coal prices.
The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price for September 2012 loading at US$ 86.21 per ton, 1.84% higher than August 2012 Price.
This coal benchmark price was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the August 2012 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-1 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25%.
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 September 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 spot and term contracts. However the full implementation of HBA has started only since September 2011.
The September 2012 HBA was 25.85 percent or $ 30.05 lower Y-o-Y basis.
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The price was only valid for the spot price (loading on or before 30 September 2012), while as for term price (up to 12 months supplies), the average reference price (HPB) of the previous 3 months will be used to determine the selling price. (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 61 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 been revised to comply with new coal pricing regulation, which was fully implemented on 23 September 2011.
The government has recently introduced export duty for unprocessed minerals but coal was missing in the recent regulation. According to Mining law 04/2009, the coal producers of Indonesia were asked to add value for their product such as washing, crushing, blending and upgrading to have a higher-value product prior to eye on the export market and avoid proposed export ban.
Coal traders must hold IUP OPK to sell or buy coal in Indonesia. Coal traders are requested to obtain IUP OPK from mining department to sell or buy coal within Indonesia as well as to export to overseas market.
Click here for complete Indonesian coal reference prices since January 2009.(cs)
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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Trasteel International SA, Italy
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- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
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- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
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- Anglo American - United Kingdom
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- Bhatia International Limited - India
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- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
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- White Energy Company Limited
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- Madhucon Powers Ltd - India
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- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
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- Energy Development Corp, Philippines
- MS Steel International - UAE
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- AsiaOL BioFuels Corp., Philippines
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- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
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- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
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- Cigading International Bulk Terminal - Indonesia
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- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
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- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
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- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
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- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Price Waterhouse Coopers - Russia
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- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
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- Indian Oil Corporation Limited
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- New Zealand Coal & Carbon
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- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
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- Parliament of New Zealand
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- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
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- Eastern Coal Council - USA
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- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
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- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
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