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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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Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
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- Electricity Authority, New Zealand
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
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- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
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- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
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- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
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- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
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- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
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- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
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- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
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- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
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- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Deloitte Consulting - India
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- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
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