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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, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
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- Leighton Contractors Pty Ltd - Australia
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- Mintek Dendrill Indonesia
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- Australian Coal Association
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- Economic Council, Georgia
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