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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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Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
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- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
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