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Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
 COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for the month of September sets at US$ 69.69 which 60 US cents lesser than last month HBA of US$ 70.29 per MT. 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 excess output compared to low demand. Government of Indonesia is trying to introduce new regulations to eliminate illegal coal mining to control the unaccounted coal outputs. The export volume of Indonesian coal is still above around 32 - 35 million per month despite low coal prices. The government of Indonesia recently introduced ET-Batubara requirement to control coal export flow out of country. According to government's revised regulation, the new regulation will be in force starting from 1st October 2014.
However, September declared HBA is 10.92% or US$ 6.89 higher compared to May 2009 bench mark price of US$ 62.83 per MT, which was the lowest declared price in history of HBA. In the meantime the highest HBA was declared in February 2011 at US$ 127.05 per MT, which was US$ 57.36 per MT higher than this month declared HBA.
Indonesian coal benchmark price for September 2014 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the August 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 – 30 September 2014.
The government of Indonesia is 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 was commenced since September 2011. According to government regulation, 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 for particular period.
The declared HBA of September 2014 was 9.36 per cent or $ 7.20 lower compared to the same period in year 2013. In the meantime, September 2014 HBA was US$ 57.36 or 45.15% lower compared to all time higher HBA which was declared in month of February 2011.
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 30 September 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 percent of the latest available month HPB, 30 per cent of one month prior HPB and 20 percent 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 65 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.
Click here for complete Indonesian coal price reference since January 2009.(cs).
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Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
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- Independent Power Producers Association of India
- Anglo American - United Kingdom
- PTC India Limited - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
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- Commonwealth Bank - Australia
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- Central Electricity Authority - India
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- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
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- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
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- Wilmar Investment Holdings
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- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Australian Coal Association
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
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- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
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- Videocon Industries ltd - India
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- Indogreen Group - Indonesia
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- Bharathi Cement Corporation - India
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- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
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- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
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- Africa Commodities Group - South Africa
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- White Energy Company Limited
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- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
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- The University of Queensland
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- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
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- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
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- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
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