We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 17 August 15
INDONESIAN THERMAL COAL REFERENCE PRICE HITS RECORD LOW AGAIN!
 COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.14 per MT for 6322 GAR coal for August 2015 delivery. The August price reference for Indonesian coal declined just 0.03% or US cents 2 per MT month over month and lost 7.36% year to date.
According to the date from Director General shows that, the government has fixed US$ 14.61 per MT (decline 0.07% month on month) for the coal with calorific value 2,995 kcal/kg on GAR with total moisture 50.10% on as received basis for August 2015 delivery. The royalty and taxes will be calculated based on this declared HPB. In the meantime, the government also fixed US$ 42.93 per MT as HPB for 5000 GAR coal with total moisture 22.40%, Ash 8.90% and Sulphur 0.54% for August 2015 deliveries.
Indonesian thermal coal reference price or called HBA recorded the lowest level in 80 months in August or since launching of HBA by the government of Indonesia in January 2009.
Indonesian coal benchmark price for August 2015 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using a formula based on the July 2015 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-5900 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25% and its 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 apply to spot contract, delivery between 1 – 31 August 2015.
The highest benchmark price was declared by the Ministry of Energy & Mineral Resources of Indonesia in February 2011 and compared today's price the February 2011 price was higher by US$ 67.91 per MT.
The government of Indonesia was 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 in August 2015 was 15.86 per cent or $ 11.15 lower compared to the same period in 2014.
HBA of February 2011 was the highest since the launching of HBA by the government of Indonesia (US$ 127.05 / MT for 6322 GAR coal) and the lowest was declared in this month (US$ 59.14/ MT).
This month declared price is only valid for the spot price (loading on or before 31 August 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% of the latest available month HPB (this month) 30% one month prior HPB and 20% 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 the 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 fulfill 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 excess of coal supplies and weak demand, fast developments of renewable energy and fall in oil prices are still to be blamed for delay of price recovery or falling of prices. Today’s price levels are not supporting any new investments or new explorations in coal mines.
According to reports, the free cash flow of various Indonesian coal miners have turned negative, the generated cash from coal production cannot cover companies’ operational costs. Big Indonesian coal players are now eager to diversify into other businesses such as power generation and logistics.
Low coal prices have big implications for exporting countries like Indonesia, Australia, South Africa and Russia. We believe it will take several years to recover fully as the supply is still quite higher compare to the demand and also the price of oil has also falling drastically. The price of oil fallen from more than $100 per barrel in June 2014 to under $49 today.
However according to Medium-Term Coal Market Report 2014, the global coal demand growth has been slowing in recent years, and the report sees that trend continuing. Coal demand will grow at an average rate of 2.1% per year through 2019.
According to the report, the global demand for coal over the next five years will continue marching higher, breaking the 9-billion-tonne level by 2019. The report notes that despite China’s efforts to moderate its coal consumption, it will still account for three-fifths of demand growth during the outlook period. Moreover, China will be joined by India, ASEAN countries and other countries in Asia as the main engines of growth in coal consumption, offsetting declines in Europe and the United States.
The government of Indonesia is also implemented a new income tax of 1.5% on the delivery value to domestic or export value of the coal starting from 8 August 2015. The new tax would be levied on IUP holders or Izin Usaha Pertambangan and not on Coal Contract of Works or CCoW holders. Holders of Coal Contract of Works are exempted from this new tax. However CCoW holders are dominating Indonesian coal industry or approximately 75% of coal output is coming from those big scale miners in Indonesia.
It would be nice to see coal prices settle at a point where both the producer and consumer can sustain. Will it happen any time soon……..?
Click here for full details of Indonesian coal price reference since January 2009.(cs).
COALspot.com makes no warranties, express or implied, as to the accuracy adequacy or completeness of the information and assumes no liability in connection with any party use of it. The information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such. COALspot.com will endeavor to update information where appropriate, but is under no obligation to do so. All third party users of this website and or data produced or published by the COALspot.com do so at their own risk. Read our Terms of Use | Privacy Policy | Disclaimer before use of this site.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 07 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 528.1 MMST; DOWN 8.7% Y/Y - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 06 August 15
THE RATES FOR CAPES SHOOT UP LAST WEEK; GIVING THIS RECENT RALLY SOME MUCH NEEDED LEGS - INTERMODAL
COALspot.com: The Dry Bulk market noted another positive closing last week, entirely supported by Capesize performance, which managed to balance th ...
Thursday, 06 August 15
HARD COAL AND COKE IMPORTS TO GERMANY REACH NEW ALL-TIME HIGH OF 56.2M TONES IN 2014
Demand for German and imported hard coal In 2014, in 2014 fell by almost 8%, or 4.8m TCE, to 56.2m TCE.
According to German Coal Importer ...
Thursday, 06 August 15
SEABORNE WORLD TRADE IN STEAM COAL GROWS BY 3% YOY - GERMAN COAL IMPORTER ASSOCIATION
Global trade with hard coal, at 1,272m tones in 2014, increased by 35m tonnes or 3% in comparison with the previous year.
According to associa ...
Wednesday, 05 August 15
SHIPPING MARKET INSIGHT - KATERINA RESTIS
On July 14th, 2015 a historical consensus was reached in Vienna between Iran and the five permanent members of the U.N. Security Council, plus Germ ...
|
|
|
Showing 2881 to 2885 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Planning Commission, India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
|
| |
| |
|
