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Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in March. HBA has climbed first time in last twelve month.
The Director General of Mineral and Coal of Indonesia, who has authority to declare monthly bench mark price for Indonesian thermal coal, revised up Indonesian coal benchmark price for March 2016. The Mineral and Coal department has declared March 2016 HBA at US$ 51.62 per ton for 6322 GAR power plant coal on 7 March 2016.
The March 2016 HBA up nearly 1.37% from last month but declined 23.82% the comparable year-to-date price in 2015.
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The March 2016 price reference for Indonesian coal up 1.37% or US$ 0.70 a ton from February 2016. The March Indonesia benchmark price for coal was off 23.82% from the March 2015 price of US$ 67.76 a ton. An increase or decrease in four international coal indices such as ICI-1, Platts-5900, NEX and GC will cause an increase or decrease in HBA every month, as HBA was linked to those indices.
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.
According to the data from Director General shows that, the government has fixed US$ 12.76 a ton (rose 1.43 per cent 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 March 2016 FOB vessel delivery. In the meantime, the government also declared US$ 37.92 per ton as HPB for 5000 GAR coal with total moisture 22.40%, Ash 8.90% and Sulphur 0.54% for March 2016 deliveries.
The March 2016 Indonesian thermal coal reference price (or called HBA) was the lowest in 86 months or since launching of HBA by the government of Indonesia in January 2009. The royalty and taxes will be calculated based on this declared HPB.
Indonesian coal benchmark price for March 2016 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using a formula based on the January 2016 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 March 2016.
The highest benchmark price was declared by the Ministry of Energy & Mineral Resources of Indonesia in February 2011, 5 years ago and price was US$ 76.43 a ton or 146.12 per cent higher compared to this month's bench mark price.
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 and 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.
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 February 2016 (US$ 50.92 / MT).
The declared HBA in this month is valid for the spot price (loading on or before 31 March 2016), 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 67 coal types with a quality similar to the coal price markers.
The excess of coal supplies and weak demand, fast developments of renewable energy and fall in oil prices are still to be blamed for obstacle of price recovery or the main reasons of falling of coal prices. According to small scale miners, today’s coal price levels are no more supporting any new investments or new explorations in coal mines. Some Indonesian big scale miners are increasing the production to keep their bottom line healthy while small scale miners either closing down the operation or downscale the operation to keep a float at this difficult time.
Click here for full details of Indonesian coal price reference since January 2009.(cs).
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Wednesday, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
Friday, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
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- Power Finance Corporation Ltd., India
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- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
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- Bhushan Steel Limited - India
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- Africa Commodities Group - South Africa
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- Bangladesh Power Developement Board
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- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
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- Ministry of Mines - Canada
- Australian Coal Association
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- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
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- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
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- Bhatia International Limited - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
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- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Interocean Group of Companies - India
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- Price Waterhouse Coopers - Russia
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- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
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- Romanian Commodities Exchange
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
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- Thai Mozambique Logistica
- White Energy Company Limited
- Indian Energy Exchange, India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
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- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
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- Rashtriya Ispat Nigam Limited - India
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