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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, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
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- Agrawal Coal Company - India
- Baramulti Group, Indonesia
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- Merrill Lynch Commodities Europe
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- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
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- Star Paper Mills Limited - India
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- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
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- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
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- Romanian Commodities Exchange
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- Parliament of New Zealand
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- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
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- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
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- London Commodity Brokers - England
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- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
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- IEA Clean Coal Centre - UK
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- Independent Power Producers Association of India
- Mjunction Services Limited - India
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- Bayan Resources Tbk. - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Jorong Barutama Greston.PT - Indonesia
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- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
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- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
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- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
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