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Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
 COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
HBA for the month of October sets at US$ 67.26, US$ 2.43 lesser than last month HBA of US$ 69.69 per MT. The declared Indonesian Coal Price Reference for this month is the lowest since October 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 around 28 - 30 million per month despite low coal prices. The government of Indonesia recently introduced ET-Batubara requirement to control coal export flow out of country.
October declared HBA is 7.05% or US$ 4.43 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.
Indonesian coal benchmark price for October 2014 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the June 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 October 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 October 2014 was 12.20% or $ 9.35 lower compared to the same period in year 2013 and also US$ 59.79 or 47.06% lower compared to all time high declared 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).
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In the meantime, this month declared HBA was the lowest declared price in 2014. October HBA lost 17.88% or US$ 14.64 pmt since January 2014. The government has sets January 2014 HBA at US$ 81.90 per Mt.
The price was only valid for the spot price (loading on or before 31 October 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 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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Wednesday, 29 October 14
GOOD REASON WHY Q4 CAPESIZE OUTLOOK WAS SO BULLISH AT START OF THE YEAR - COMMODORE RESEARCH
COALspot.com: There was good reason why so many analysts' capesize outlook for Q4 was so very strong at the start of this year. Brazilian ...
Tuesday, 28 October 14
SGX'S FOB RICHARDS BAY COAL SWAP FOR DELIVERY Q1' 2015 CLOSED AT $ 68.07 ON 24 OCT
COALspot.com: API 4 FOB Richards Bay coal swap for Q4’ 2014 delivery decreased US$ 0.65 (-0.96%) month over month and increased US$ 1.79 (+2. ...
Tuesday, 28 October 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1' 15 DELIVERY CLOSED 3.68% LOWER MONTH ON MONTH
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week.
The swap has lost US ...
Monday, 27 October 14
GOVT PROMISES TO EASE LICENSING PROCEDURES IN MINING SECTOR - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to simplify the complicated licensing procedures i ...
Monday, 27 October 14
FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED $ 0.10 LESSER THAN Q4' 14 CLOSING OF $ 53.27 PMT
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.43 (-2.61%) month over month and increased US$ 0.05 (+0.09% ...
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- Simpson Spence & Young - Indonesia
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- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
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- IEA Clean Coal Centre - UK
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- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
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- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Global Business Power Corporation, Philippines
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- Planning Commission, India
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- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
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- Global Green Power PLC Corporation, Philippines
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- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- CNBM International Corporation - China
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- Chamber of Mines of South Africa
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- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
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- European Bulk Services B.V. - Netherlands
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- Rashtriya Ispat Nigam Limited - India
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- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
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- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- White Energy Company Limited
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- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
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- Singapore Mercantile Exchange
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- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
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- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Indonesian Coal Mining Association
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