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Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
 COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price benchmark for March 2012 at US$ 112.87 per ton, US$ 1.29 higher than February 2012 Price.
This coal benchmark price was calculated coal with calorific value of 6,322kcal/kg (GAR), stated to be using formula based on the February 2012 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% (arb), Ash Content 15 % (arb) and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 - 31 March 2012.
The government of Indonesia has been publishing a monthly coal reference price (HBA & HPB) since January 2009 to be used by coal producers for all future spot and term contracts.
The March HBA was 7.80 percent lower Y-o-Y.
The price was only valid for the spot price, while as for term price, the average reference price (HPB) of the previous 3 months. (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 62 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 have revised to comply with new coal pricing regulation, which was fully implemented on 23 September 2011.
Indonesian government also drafting a regulation to ban coal with calorific value below 5700 kcal/kg on air dried (according to the draft regulation posted on djmbp website) basis for the export market by 12 January 2014. Indonesian coal producers were asked to add value for their product such as washing, crashing, blending and upgrading to have a higher-value product prior to eye on the export market.
Raw coal export will also be restricted once the regulation issued. The government has also issued a regulation (24/2012) which will limit foreign ownership in mines to 49 percent within 10 years of production.
In coming months Indonesian coal industry will see a number of new regulations.
Click here for complete details of Indonesian coal reference prices since Jan 2009.(cs)
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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Alfred C Toepfer International GmbH - Germany
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- Coal and Oil Company - UAE
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- Planning Commission, India
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