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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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Tuesday, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
Monday, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
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- GN Power Mariveles Coal Plant, Philippines
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- SMC Global Power, Philippines
- Economic Council, Georgia
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- Ministry of Transport, Egypt
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- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
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- European Bulk Services B.V. - Netherlands
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- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
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- AsiaOL BioFuels Corp., Philippines
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- Independent Power Producers Association of India
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- Georgia Ports Authority, United States
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- Energy Development Corp, Philippines
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- PTC India Limited - India
- Australian Commodity Traders Exchange
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- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
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- Commonwealth Bank - Australia
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- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
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- Pendopo Energi Batubara - Indonesia
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- Bhushan Steel Limited - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
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- Merrill Lynch Commodities Europe
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- Attock Cement Pakistan Limited
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- Romanian Commodities Exchange
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- Billiton Holdings Pty Ltd - Australia
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- Ministry of Mines - Canada
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- Kartika Selabumi Mining - Indonesia
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