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Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
 COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 per MT. The February price reference for Indonesian coal fallen by US$ 0.92 or 1.44% month over month. The declared Indonesian Coal Price Reference for this month was the lowest since May 2009 or needed only a US$ 0.10 to fall to beat the historic lowest HBA since the establishment of this reference price.
The government declared February 2015 HBA has fallen to a 68-month low and Indonesian some small scale coal miners axe jobs and suspended mining operations or scale down their production to address the effect of the falling prices and demand. However, surprisingly, the large scale coal mine operators in Indonesia are planning to increase the production in 2015. The highest HBA was declared in February 2011 at US$ 127.05 per MT, which was US$ 64.13 per mt higher than this month’s declared HBA of $ 62.92 per MT.
The excess coal output compared to a low demand is a significant contributing factor for coal prices fall for last few years. The world’s recent oil price decline also further push down the current coal prices to deeper or pause the recovery of coal prices temporarily.
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Indonesian coal benchmark price for February 2015 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using a formula based on the January 2015 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-5900 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25%.
February 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 – 28 February 2015.
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 a particular period.
The declared HBA of February 2015 was 21.78 per cent or $17.52 lower compared to the same period in 2014. In the meantime, February 2015 HBA was US$ 64.13 or 50.48% lower compared to all time high HBA which was declared in February 2011.
February 2011 declared HBA was the highest since the launching of HBA by the government of Indonesia (US$ 127.05 / MT) and the lowest was declared in May 2009 (US$ 62.83/ MT).
The February price was only valid for the spot price (loading on or before 28 February 2015), while as for term price (up to 12 months supply), 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).
The government also declared price marker for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands act as the benchmark and used to calculate other 66 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 the vessel. The government has recently issued a regulation (644.K/30/DJB/2013 dated 21 March 2013) to regulate or determine coal prices on FOB barge. The government also fixed the freight for barging, surveyor, insurance and etc., to determine FOB barge price. Transshipment 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 being established to fulfil the requirement of mining law 04/2009 and ministerial decree No.17/2010. In addition to that, it aims to increase government revenue from royalties from coal producers.
The coal prices are now trying to settle at a new level and it may not possible to see the price levels of year 2008 or 2011 once again in near future. The weak oil prices are now joining hands with the excess of coal supplies, weak demand, to delay the recovery of coal prices from this level to higher level in coming months. It would be nice to see coal prices settle at a point where both the producer and consumer can sustain.
Click here for full details of Indonesian coal price reference since January 2009.(cs).
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Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
Monday, 30 March 15
Q3' 15 CFR SOUTH CHINA COAL SWAP: DECLINED 8.7% M-M; 12.77% Y-TO-D
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.00 (-8.70%) per MT month over month and US$ 1.33 (-2 ...
Monday, 30 March 15
Q2' FOB NEWCASTLE COAL SWAP CLOSED 4.47% HIGHER THAN Q4' CLOSING PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 5.42 per MT (-10.43%) month over month and US$ 1.60 (-3.32%) w ...
Sunday, 29 March 15
INDO - INDIA: SUPRAMAX & PANAMAX FREIGHT MARKET STEADY
COALspot.com: The freight market was almost stable as all segments slightly up except Panamax sector.
The BDI was up by just 0.85% week over w ...
Saturday, 28 March 15
IS NORTHERN EUROPE THE NEW MINING ELDORADO?
The Europe Mining 2015 Summit, organised by Global Summits organizer IRN on 17-18 June in Amsterdam, The Netherlands, will gather senior level repr ...
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- Goldman Sachs - Singapore
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- Standard Chartered Bank - UAE
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- Price Waterhouse Coopers - Russia
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- Therma Luzon, Inc, Philippines
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- Africa Commodities Group - South Africa
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- Indian Oil Corporation Limited
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- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
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- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
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- Planning Commission, India
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- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
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- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
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- Eastern Energy - Thailand
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- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
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- Ministry of Transport, Egypt
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- Ministry of Mines - Canada
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- PowerSource Philippines DevCo
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- White Energy Company Limited
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Parliament of New Zealand
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- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
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- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
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- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
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- Chettinad Cement Corporation Ltd - India
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- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
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