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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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Sunday, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
Wednesday, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
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- Bulk Trading Sa - Switzerland
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- European Bulk Services B.V. - Netherlands
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- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
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- Planning Commission, India
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- Central Electricity Authority - India
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- IHS Mccloskey Coal Group - USA
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- Directorate Of Revenue Intelligence - India
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- Energy Development Corp, Philippines
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- New Zealand Coal & Carbon
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- White Energy Company Limited
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
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- McConnell Dowell - Australia
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- Altura Mining Limited, Indonesia
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- Rio Tinto Coal - Australia
- Minerals Council of Australia
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- Price Waterhouse Coopers - Russia
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- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
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- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
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- Wilmar Investment Holdings
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
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- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
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- Medco Energi Mining Internasional
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- Binh Thuan Hamico - Vietnam
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- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Anglo American - United Kingdom
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- Iligan Light & Power Inc, Philippines
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- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
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- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
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- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
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- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
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- The Treasury - Australian Government
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Parliament of New Zealand
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- Georgia Ports Authority, United States
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- Ministry of Finance - Indonesia
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