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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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Friday, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
Thursday, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
Handy
The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...
Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...
Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
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- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
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- Vizag Seaport Private Limited - India
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- Global Business Power Corporation, Philippines
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- Simpson Spence & Young - Indonesia
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- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
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- McConnell Dowell - Australia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
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- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
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- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- White Energy Company Limited
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
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- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
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- IEA Clean Coal Centre - UK
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