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Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal reference price for coal sales this month lost 0.20 percent from last month.
The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price for October 2012 loading at US$ 86.04 per ton, 0.20 % lower than September 2012 Price.
The reference price is to be used by coal producers and suppliers for all future spot and term contracts. This coal benchmark price is stated as using a formula based on the index average of ICI-1 (Indonesia Coal Index), Platts-1, Newcastle Export Index, and global Coal Index. The assessment basis of the coal price reference was calculated considering coal with GCV 6,322kcal/kg (GAR), Total Moisture (AR) 8.00%, Total Sulphur 0.8% (AR), Ash Content 15% (AR) and delivery Free on Board (FOB) Vessel basis.
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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 – 31 October 2012.
The mining law 04/2009 and latest ministerial decree 17/2010 require a coal reference price to be established. The aim is to increase government revenue from coal royalties. The government of Indonesia has been publishing a monthly coal reference price (HBA and HPB) since January 2009, the full implementation of HBA has started only since September 2011. The HBA is changing the cost dynamic for foreign investors and international purchases as the reference price is now linked to global prices and the traditional discount applied to Indonesian coal is no longer applicable.
The October 2012 HBA is 33.20 percent or $ 27.84 lower Y-Y basis.
The price was only valid for the spot price (loading on or before 30 October 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.
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 since 23 September 2011.
“The patterns observed in the differentials suggest that when benchmark coal prices were trading well above $100/t, price-sensitive Asian buyers such as China and India turned increasingly to lower-priced, low-CV coal. As supply availability improved of the benchmark grades, these began to increasingly compete for market share against the low-CV coal. With low CV coal having seen demand stay buoyant, those prices fell slower as the benchmarks chased the market downwards. Eventually, benchmark grade coals became competitive against the lower-CV volumes and demand started to shift back towards those grades. As the low-CV coals started to lose market share, those prices then fell through the summer months and started to push the spread back upwards, “ as reported by Barclays on its Coal and Freight Quarterly report which was released late last month.
Click here for complete Indonesian coal reference prices since January 2009.(cs)
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Saturday, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
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- Sojitz Corporation - Japan
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- The State Trading Corporation of India Ltd
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- New Zealand Coal & Carbon
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- CNBM International Corporation - China
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- Minerals Council of Australia
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- Electricity Authority, New Zealand
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- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
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- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
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- London Commodity Brokers - England
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- Eastern Coal Council - USA
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- Australian Commodity Traders Exchange
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- Latin American Coal - Colombia
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- IEA Clean Coal Centre - UK
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- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
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- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
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- Parry Sugars Refinery, India
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- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
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- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
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- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
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- Standard Chartered Bank - UAE
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- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
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- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Rio Tinto Coal - Australia
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- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
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- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
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- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Xindia Steels Limited - India
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- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
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- Directorate General of MIneral and Coal - Indonesia
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