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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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- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- The University of Queensland
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
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