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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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Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
Tuesday, 10 February 15
IRON ORE MARKET TO REMAIN OVERSUPPLIED IN 2015: PRICE FORECAST $70/T - WOOD MACKENZIE
COALspot.com: With January witnessing the price of iron ore falling to its lowest levels since May 2009, Roger Emslie, Principal Metals & ...
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- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
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