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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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Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
Friday, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
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- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- MS Steel International - UAE
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