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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
 COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1.42 per ton in May 2011.
This coal benchmark was calcualted coal with calorie of 6,322kcal/kg (GAR), stated to be using formula based on the May 2011 index average of ICI-1 (Indonesia Coal Index), Platts-1, NEX (Newcastle Export Index), and GC (globalCoal Index).
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%, Ash Content 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 - 30 June 2011.
The government of Indonesia has been publishing a monthly coal reference price (HBA) since February 2010 to be used by coal producers for all future spot and term contracts. The June HBA was 22.43 percent higher Y-o-Y.
The price is only valid for spot price, while as for term price, the benchmark is using the average of recent 3 months benchmark prices and valid for coal contract at least 12 months.
Government also declared reference price for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands are act as benchmark and used to calculate other 54 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.
The coal reference price, which has been established to fulfill the requirement of mining law 04/2009 and latest ministerial decree 17/2010 and also aims to increase government revenue from royalties from coal producers. According to industry, all existing coal supply agreements with Indonesian coal mining companies will have to be revised to comply with new coal pricing regulations before September 23, 2011.
As a result of the Indonesian new pricing formula, price of Indonesian coal will go up by $30 a tonne and lead to a INR 0.70 (Approx. US$ 0.015) per unit increase in cost of electricity generation, as quoted by an Indian paper.
Indonesian coal prices are also gaining on a shortage of coal in China to meet summer demand, said a coal trader from Kalimantan. Chinese local media reported that, Beijing may cut the 17 percent value-added tax and port charges on imported coal to encourage more overseas purchases. China is now facing its worst summer power shortage in seven years, as quoted by Chinese as well as International medias.
Indian high energy demand also has influenced the coal prices in recent weeks says another coal trader from Jakarta.
Click here for complete details of Indonesian coal reference prices since Feb 2010.(cs)
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Friday, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
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- Global Green Power PLC Corporation, Philippines
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- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
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- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
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- International Coal Ventures Pvt Ltd - India
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- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
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- Australian Coal Association
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- Economic Council, Georgia
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- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
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- Vedanta Resources Plc - India
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- London Commodity Brokers - England
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- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
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- Chamber of Mines of South Africa
- The University of Queensland
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- Salva Resources Pvt Ltd - India
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- Independent Power Producers Association of India
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- Trasteel International SA, Italy
- Goldman Sachs - Singapore
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- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
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- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
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- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
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- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
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- Power Finance Corporation Ltd., India
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