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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, 09 March 15
CHINA'S IMPORTS - NEVER MORE IMPORTANT TO SHIPPING? - CLARKSONS
Over the last 15 years China has led maritime forecasters a right old dance. In 2002, rumours that Chinese iron ore imports were about to take off ...
Sunday, 08 March 15
FREIGHT RATES FROM INDONESIA TO INDIA IS TRENDING UP
COALspot.com: The freight market continued to see gains this week and all the indices were rose except for Cape index. The BDI was increased 4.62 p ...
Friday, 06 March 15
BALTIC DRY INDEX: IS THIS POWERFUL INDICATOR SIGNALING A GLOBAL RECESSION? - STREET AUTHORITY
Although memories of the Great Recession linger, a case can be made that better days lie ahead.
That’s because central banks around the ...
Friday, 06 March 15
U.S. WEEKLY COAL PRODUCTION ROSE 3.5% WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.1 million short tons (mmst) of coal ...
Thursday, 05 March 15
PANAMAX : THE ATLANTIC ROUND IS NOW PAYING AROUND US$ 5K PER DAY
COALspot.com: Handy - The activity in the handy/supra segment is back. “ We see more fresh cargo in the market for 2nd half March dates ...
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- Economic Council, Georgia
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- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
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- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
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- Metalloyd Limited - United Kingdom
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- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
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- AsiaOL BioFuels Corp., Philippines
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- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
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- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
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- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Minerals Council of Australia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
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- Edison Trading Spa - Italy
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