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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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Monday, 07 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAINED 2.09% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 2.09 percent month on month and closed at US$ 75.68 per ...
Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING
COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall r ...
Friday, 04 April 14
UNITED STATES COAL OUTPUT UP 5.4% IN PAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.9 million short tons (mmst) of coal i ...
Thursday, 03 April 14
PANAMAX SECTOR IS WATCHING A SEVERE DROP IN RATES - FEARNLEYS
Handy
A further weaker sentiment for the Supras as well in both hemispheres this week with oversupply of tonnage being the major headline. Tra ...
Wednesday, 02 April 14
CHINA: ARBITRATION CLAUSES IN BILLS OF LADING UNDER CHINESE LEGAL PRACTICE - SKULD
KNOWLEDGE TO ELEVATE
Successful incorporation of a charterparty arbitration clause into the bills of lading is not a straight forward matte ...
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- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
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- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
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- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- The University of Queensland
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