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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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Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
Monday, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
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- ASAPP Information Group - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
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- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- The University of Queensland
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
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- Baramulti Group, Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- Thai Mozambique Logistica
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- Antam Resourcindo - Indonesia
- Australian Coal Association
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- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
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- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
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- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
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- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
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- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
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- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
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- The State Trading Corporation of India Ltd
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- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
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- Bharathi Cement Corporation - India
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- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
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