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Wednesday, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
 COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* billion worth of coal in May 2014. According to our sources, the average export price of coal in May 2014 was around US$ 52.14* per mt. The average selling prices was unchanged from April 2014.
In the meantime, April 2014 average selling price of coal was around 4.2% lower than March 2014 average selling price. Country's May 2014 export volume up 2.19% compared Indonesia's April 2014 exported volume.
Indonesia shipped around 35.32* million tons of coal in May 2014, around 2.19% per cent higher compared to country's April 2014 exports of 34.56* million tons.
According to available information that we obtained from various sources, China, the world’s largest coal producer and the net importer of coal has imported around 8.70* million tons of coal in March 2014 or around 1.47%* lower than its April coal imports from Indonesia.
In the meantime, India's coal imports from Indonesian in May increased by 5.11 percent to 12.32* million tons compared to its April 2014. Indonesia shipped around 11.72* million tons of coal in April 2014 to India.
According to Indonesian coal exports statistics, the China has dominated Indonesian coal imports in first quarter but almost lost to India in Q2 in 2013. However, China has again becomes largest Indonesian coal buyer for second half of 2013, which was continued until February 2014, but lost to India since March 2014.
India and China are the Major Indonesian coal importers for last few years and Indonesian coal out puts, almost depends on Chinese and Indian imports. India is the major buyer of Indonesian medium to low calorific value coal. Indian utilities particularly state owned power producers used to buy Indonesian medium calorific value coal due its competitive price. According to market information the Indonesian ultra low calorific value coal is being sold to India around mid to low twenties. In the meantime, Indonesian high value coal, such as 6000 GAR and above coal prices stood at high eighties. Japan & South Korea are the major buyers of Indonesian high calorific value coal. Due to freight advantages, the Indonesian higher value coal prices were high compare to other origins of high grade coal prices.
According to information that we obtained from the market shows that, the Indonesian high calorific value coal's FOB prices were reached above US$ 78 to 85 per Mt in May 2014. The price of high calorific value coal prices lost slightly compared to April average selling prices. In the meantime most of the very high moisture coal was sold around mid to low twenties levels.
Indonesian coal prices were showing a weak trend this week and according to COALspot.com’s weekly coal assessment the prices for 5800 GAR coal being offered around US$ 69.00 per MT. However the bids from buyers were only around US$ 66.00 – 66.25 per MT. The 5000 GAR coal being offered around US$ 55 level against bids of US$ 53.00 – 53.50 levels.
Around 59.52%* (65.24%* in April) of total Indonesian coal exports in May shipped to India and China.
Indonesia shipped 5.11 per cent more coal to India in May 2014 compared to country's April exports of 11.72* million tons. Indonesia exports mostly low calorific value coal to India. Indian buyers used to buy below 5000 GAR coal particularly 4200 and 3800 GAR coal from Indonesia, which is according to them more economically benefited and attractive compare to high GCV coal such as 6000 GAR coal.
Low calorific value power plant coal of Indonesian origin is still dominating Indian market compare to Chinese market. India used to buy 3800 – 4200 GAR coal from Indonesia and high calorific value coal from S/A. Indian coal importers, particularly traders are importing Indonesian ultra-low calorific coal particularly from Sumatra and North Kalimantan for blending purpose with South African high calorific value coal, said a coal importer familiar with Indonesian and S/A coal. Indonesian ultra-low calorific value coal contains high total moisture.
International markets have traditionally been the principle destination for Indonesian thermal coal, with around 83.49%* (83.42%* in April 2014) of the county's total thermal coal exports in May 2014 shipped to India, China, South Korea, Japan & Taiwan.
Indonesia shipped 8.70* & 8.83* million tons of coal to China in May & April 2014 respectively.
Indonesia's export thermal coals are bituminous to sub-bituminous in rank with widely varying ash, moisture and sulphur characteristics. In Indonesia, coals with as-received heat contents in excess of 5300 kcal/kg (gar) are generally classified as bituminous coals while coals with as-received heat contents of 4100 to 5300 kcal/kg (gar) are classified as sub-bituminous coals and below 4100 kcal/kg (gar) coals are classified as sub-bituminous "C" grade.
Global coal price forecasts
Credit Suisse Group AG recently cut its price forecast for European thermal coal. The bank lowered its third-quarter price outlook for Australian and European coal by 6.3 percent to $75 a metric ton, and cut its fourth-quarter forecast by 12 percent to $75. Supply is expected to outweigh demand in the seaborne market through at least 2015, Marcus Garvey, an analyst at the bank, as quoted by Bloomberg.
“We expect a structural downtrend in coal demand to reduce imports by a compound annual growth rate of 6 percent through 2017,” London-based Garvey said in the report. “Plant closures resulting from the Large Combustion Plant Directive and competition from renewable capacity will also continue to weigh,” says Bloomberg’s report.
In the meantime, Credit Suisse forecasts the annual rate of increase in Chinese coal demand is forecast to drop to 1.7 percent in 2014 from 5.8 percent in 2013 and 31 percent in 2012 and Coal-fired power may account for almost 80 percent of total generation this year, compared with more than 80 percent in both 2011 and 2012, as quoted by Bloomberg.
Indonesian Coal Price Reference
According to the Indonesian mining law 4/2009, all coal miners in Indonesia to require to follows the government declared coal prices (HBA) when they conclude a coal sale and purchase contract with their buyers either on spot or terms. The Director General of Mineral and Coal’s declared the minimum selling price for Indonesian coal for June 2014 delivery was slightly higher than May 2014 declared price.
The reference price is to be used by coal producers for all spot and term contracts.
This coal benchmark price is stated as using a formula based on the index average of ICI-1 (Indonesia Coal Index), Platts-5900, Newcastle Export Index, and global Coal Index. The assessment basis of the coal price reference was calculated considering coal with GCV 6,322kcal/kg (GAR), Total Moisture (AR) 8.00%, Total Sulphur 0.8% (AR), Ash Content 15% (AR) and delivery Free on Board (FOB) Vessel basis.
The government declared HBA for June 2014 rose marginally or 0.05% per cent month on month and falls13.23% year on year (June 2013).
The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price benchmark for June 2014 delivery at US$ 73.64 per ton (basis 6322 GAR coal), which was US cents 4 higher than May 2014 price and US$ 11.23 lower compared to the same period in 2013.
Royalty Increase; Export Duty
According to available information, the Indonesian government is studying a proposal to increase royalty on coal for IUP holders as well as to introduce an export duty for coal.
The government also to impose new rules on shipments requiring miners to register themselves as exporters at the trade ministry and coal shipments will only be allowed through selected or approved ports. Government hops that; this restriction will help authorities to implement better monitoring system to eliminate illegal mining. According to media reports around 50 million tons coal being exported without clear approvals or licenses from relevant departments and which is causing losses to country in terms of taxes as well as royalties. Currently Indonesia is having hundred of barge loading ports and anchorage loading point to support coal loading in South, East and North Kalimantan as well as Sumatera Island.
The government has already identified the coal ports in Sumatera and Kalimantan. Domestic coal requirement is also expected to reach around 95.5 million tons in 2014 compared to around 65 million tons in 65 million. Indonesian Coal Industry executives are in the opinion that, increase of domestic requirements for coal this year and implementation of tough regulations and rules on coal exports will help to push the coal prices upwards.
Indonesia is to maintain the same level of coal output of 2013 for year 2014. According to media reports, Indonesia will produce around 421 million mt of coal in 2014 or the same volume that produced in 2013.
**The coal export information within this article is provided by COALspot.com on an "as is" and "as available” basis. All details about, given in good faith and has been collected from various press reports, organization and individuals considered reliable but without guarantee. While, every care has been taken to ensure, the accuracy of information furnished in this article, COALspot.com does not accept any responsibility or liability for any damage or loss caused to any person as a result of any action taken on the basis of this information.
COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.* All figures (volume, revenue and price) are subject to verification. Average selling price mentioned here is average selling price of from ultra low calorific coal to bituminous coal (cs)
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Monday, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
Monday, 30 June 14
INDO - INDIA FREIGHT RATES CONTINUE TO WEAK
COALspot.com: The latest dry Index shows that average all-in spot freight declined, the Panamax and Supramax slipping by 9.11 percent and 4% respec ...
Friday, 27 June 14
DRY BULK MARKET STILL LOOKING FOR UPSIDE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept up its lacklustre performance during the past week, as evidenced by the course of the Baltic Dry Index (BDI). The BDI ...
Thursday, 26 June 14
PANAMAX : A PACIFIC ROUND PAYS AROUND US$ 3K DAILY - FEARNLEYS AS
Handy
In the Atlantic there has been little activity which again has caused rates to slip across all trades. TA´s are now down to US$ 5,500 ...
Thursday, 26 June 14
KOMIPO INVITES BIDS FOR TOTAL 750K MT OF BITUMINOUS COAL FOR 3CY
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) has issued a new tender for supply of total 250,000 MT of bituminous co ...
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- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
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