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Thursday, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
 COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to US$ 73.60 for May 2014 deliveries today. This month HBA dips for fourth consecutive months losing 10.13 percent since January 2014.
The declared Indonesian Coal Price Reference for this month is the lowest since November 2009. The current Indonesian coal prices are almost reflecting its 2009 levels due to various reasons including high output. The demand for Indonesian coal is still high, but it's seems that the demand is not supporting to push up the coal prices to higher level.
However this month declared HBA is 17.14% or US$ 10.77 higher compared to May 2009 bench mark price. Exactly five year back Indonesia has declared its lowest HBA at US$ 62.83 which was the lowest declared value in HBA's history. In the meantime the highest was declared in February 2011.
The export volume of Indonesian coal is still above around 32 - 35 million per month despite low coal prices.
Indonesian coal benchmark price was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the March 2014 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-5900 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25%.
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 May 2014.
The government of Indonesia has been publishing a monthly coal price reference (HBA & HPB) since January 2009 to be used by coal producers for all spot and term contracts. However, the official implementation of HBA has commenced since September 2011. The coal benchmark price must be used by the holders of production operation IUPs, special production operation IUP's, and CCoWs as a reference in determining the coal selling price.
The declared May 2014 HBA was 13.75 per cent or $11.73 lower year on year.
February 2011 declared HBA was the highest since the launching of HBA by government of Indonesia (US$ 127.05 / MT) and lowest was declared in May 2009 (US$ 62.83/ MT).
The price was only valid for the spot price (loading on or before 31 May 2014), while as for term price (up to 12 months supplies), the average reference price (HPB) of the previous three months will be used to determine the selling price. (50% of the latest available month HPB, 30% of one month prior HPB and 20% of two-month prior HPB).
Government also declared price marker 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 63 coal types with a quality similar to the coal price markers.
For sales in the barge, the reference price is reduced by barging and trans-shipment costs from barge to vessel. Government has recently issued a regulation (644.K/30/DJB/2013 dated 21 March 2013) to regulate or determine coal prices on FOB barge. Government also fixed the freight for barging, surveyor, insurance and etc., to determine FOB barge price. Trans-shipment cost US$ 4.00/MT + Surveyor cost US$ 0.25/MT + Insurance 0.80% per shipment + Barging cost (for < 270 footer - (US$ 0.0221 X barging distance) + US$ 3.7406, for 270 - 330 footer - (US$ 0.0184 X barging distance) + US$ 3.1172 and > 330 footer - (US$ 0.0154 X barging distance) + US$ 2.6002.
The coal price reference is been established to fulfil the requirement of mining law 04/2009 and ministerial decree No.17/2010. In addition to that, it is aims to increase government revenue from royalties from coal producers. The minister of Energy & Mineral Resources of Indonesia and the Parliament of Indonesia (Commission VII, which is overseeing ministry of Energy & Mineral Resources) has agreed to implement the law 04/2009 fully from January 12, 2014.
Click here for complete Indonesian coal price reference since January 2009.(cs)
(Last Update: 9/5/2014)
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Thursday, 08 May 14
'TRIAL BY MEDIA, TRIAL BY LAW' - A REPORT FROM TRACK 1 OF BIMCO'S ANNUAL CONFERENCE DUBAI 2014
KNOWLEDGE TO ELEVATE
Aiming to bring a very different type of event into their annual conference, BIMCO presented ‘Double Jeopardy &n ...
Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we ne ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
Monday, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
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- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
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- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- The University of Queensland
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- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
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- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
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- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
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