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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, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume has produced 51.46 Mt in 2015, 8% lower compared to ...
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- Eastern Coal Council - USA
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
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- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
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- Orica Australia Pty. Ltd.
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- The Treasury - Australian Government
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- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
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- Standard Chartered Bank - UAE
- Bhatia International Limited - India
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- IHS Mccloskey Coal Group - USA
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- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Australian Coal Association
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- Meenaskhi Energy Private Limited - India
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- Africa Commodities Group - South Africa
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- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
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- Power Finance Corporation Ltd., India
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- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
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- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
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- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
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- Kohat Cement Company Ltd. - Pakistan
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- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
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- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
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- Madhucon Powers Ltd - India
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- The State Trading Corporation of India Ltd
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- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
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- Deloitte Consulting - India
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- Pipit Mutiara Jaya. PT, Indonesia
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- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
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