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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as the reference price is now linked to global prices and the traditional discount applied to Indonesian coal is no longer applicable.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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Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
Sunday, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
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- White Energy Company Limited
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- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
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- Ministry of Finance - Indonesia
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- Thiess Contractors Indonesia
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- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
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- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Economic Council, Georgia
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- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Parliament of New Zealand
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- The State Trading Corporation of India Ltd
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- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
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- Global Coal Blending Company Limited - Australia
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- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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- Vedanta Resources Plc - India
- Planning Commission, India
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- GVK Power & Infra Limited - India
- CNBM International Corporation - China
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- Orica Australia Pty. Ltd.
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- Kapuas Tunggal Persada - Indonesia
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- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
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- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
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- Gujarat Mineral Development Corp Ltd - India
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