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Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal reference price for coal sales this month lost 0.20 percent from last month.
The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price for October 2012 loading at US$ 86.04 per ton, 0.20 % lower than September 2012 Price.
The reference price is to be used by coal producers and suppliers for all future spot and term contracts. This coal benchmark price is stated as using a formula based on the index average of ICI-1 (Indonesia Coal Index), Platts-1, Newcastle Export Index, and global Coal Index. The assessment basis of the coal price reference was calculated considering coal with GCV 6,322kcal/kg (GAR), Total Moisture (AR) 8.00%, Total Sulphur 0.8% (AR), Ash Content 15% (AR) and delivery Free on Board (FOB) Vessel basis.
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Assessment basis of 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 – 31 October 2012.
The mining law 04/2009 and latest ministerial decree 17/2010 require a coal reference price to be established. The aim is to increase government revenue from coal royalties. The government of Indonesia has been publishing a monthly coal reference price (HBA and HPB) since January 2009, the full implementation of HBA has started only since September 2011. The HBA is changing the cost dynamic for foreign investors and international purchases as the reference price is now linked to global prices and the traditional discount applied to Indonesian coal is no longer applicable.
The October 2012 HBA is 33.20 percent or $ 27.84 lower Y-Y basis.
The price was only valid for the spot price (loading on or before 30 October 2012), while as for term price (up to 12 months supplies), the average reference price (HPB) of the previous 3 months will be used to determine the selling price. (50% of latest available month HPB, 30% of one month prior HPB and 20% of two months prior HPB).
Government also declared reference price for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands are acted as the benchmark and used to calculate other 61 coal types with a quality similar to the coal price markers.
For sales in barge, the reference price is reduced by barging and transshipment costs from barge to vessel.
According to industry, all existing coal supply agreements with Indonesian coal mining companies have been revised to comply with new coal pricing regulation, which was fully implemented since 23 September 2011.
“The patterns observed in the differentials suggest that when benchmark coal prices were trading well above $100/t, price-sensitive Asian buyers such as China and India turned increasingly to lower-priced, low-CV coal. As supply availability improved of the benchmark grades, these began to increasingly compete for market share against the low-CV coal. With low CV coal having seen demand stay buoyant, those prices fell slower as the benchmarks chased the market downwards. Eventually, benchmark grade coals became competitive against the lower-CV volumes and demand started to shift back towards those grades. As the low-CV coals started to lose market share, those prices then fell through the summer months and started to push the spread back upwards, “ as reported by Barclays on its Coal and Freight Quarterly report which was released late last month.
Click here for complete Indonesian coal reference prices since January 2009.(cs)
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Wednesday, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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