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Saturday, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
 COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell to lowest level since September 2010. The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price for August 2012 at US$ 84.65 per ton, US$ 2.91 lower than July 2012 Price.
This coal benchmark price was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the May 2012 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-1 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25%.
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 August 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 spot and term contracts. However the full implementation of HBA has started only since September 2011.
The August 2012 HBA was 27.78 percent or $ 32.56 lower Y-o-Y basis.
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The price was only valid for the spot price (loading on or before 31 August 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.
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 been revised to comply with new coal pricing regulation, which was fully implemented on 23 September 2011.
The government has recently introduced export duty for unprocessed minerals but coal was missing in the recent regulation. According to Mining law 04/2009, the coal producers of Indonesia were asked to add value for their product such as washing, crushing, blending and upgrading to have a higher-value product prior to eye on the export market and avoid proposed export ban.
Coal traders must hold IUP OPK to sell or buy coal in Indonesia. Coal traders are requested to obtain IUP OPK from mining department to sell or buy coal in Indonesia as well as to export to overseas market.
Click here for complete Indonesian coal reference prices since January 2009.(cs)
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Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Asmin Koalindo Tuhup - Indonesia
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- Georgia Ports Authority, United States
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- Wood Mackenzie - Singapore
- Posco Energy - South Korea
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- White Energy Company Limited
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- Bulk Trading Sa - Switzerland
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- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- The Treasury - Australian Government
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- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
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- Parliament of New Zealand
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- Ministry of Finance - Indonesia
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- The State Trading Corporation of India Ltd
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- Tamil Nadu electricity Board
- Economic Council, Georgia
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- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
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- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
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- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Australian Coal Association
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
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- CNBM International Corporation - China
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- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
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- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
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- Global Business Power Corporation, Philippines
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- McConnell Dowell - Australia
- Agrawal Coal Company - India
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- Samtan Co., Ltd - South Korea
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- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
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- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
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- Singapore Mercantile Exchange
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- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
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- South Luzon Thermal Energy Corporation
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- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
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- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
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- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
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- Merrill Lynch Commodities Europe
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