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Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
 COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to US$ 74.81 for April 2014 deliveries on Monday. Declared April 2014 HBA drops to lowest since January 2010 and also dips for third consecutive month losing 8.65 percent points since January 2014.
The monthly coal price reference for coal sales in April 2014 lost 2.86 per cent compared to last month.
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This coal benchmark price was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the March 2014 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-5900 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25%.
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 – 30 April 2014.
The government of Indonesia has been publishing a monthly coal price reference (HBA & HPB) since January 2009 to be used by coal producers for all spot and term contracts. However, the official implementation of HBA has commenced since September 2011. The coal benchmark price must be used by the holders of production operation IUPs, special production operation IUP's, and CCoWs as a reference in determining the coal selling price.
The declared April 2014 HBA was 15.53 per cent or $13.75 lower year on year.
February 2011 declared HBA was the highest since the launching of HBA by government of Indonesia (US$ 127.05 / MT) and lowest was declared in May 2009 (US$ 62.83/ MT).
The price was only valid for the spot price (loading on or before 30 April 2014), while as for term price (up to 12 months supplies), the average reference price (HPB) of the previous three months will be used to determine the selling price. (50% of the latest available month HPB, 30% of one month prior HPB and 20% of two-month prior HPB).
Government also declared price marker 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 63 coal types with a quality similar to the coal price markers.
For sales in the barge, the reference price is reduced by barging and trans-shipment costs from barge to vessel. Government has recently issued a regulation (644.K/30/DJB/2013 dated 21 March 2013) to regulate or determine coal prices on FOB barge. Government also fixed the freight for barging, surveyor, insurance and etc., to determine FOB barge price. Trans-shipment cost US$ 4.00/MT + Surveyor cost US$ 0.25/MT + Insurance 0.80% per shipment + Barging cost (for < 270 footer - (US$ 0.0221 X barging distance) + US$ 3.7406, for 270 - 330 footer - (US$ 0.0184 X barging distance) + US$ 3.1172 and > 330 footer - (US$ 0.0154 X barging distance) + US$ 2.6002.
The coal price reference is been established to fulfill the requirement of mining law 04/2009 and ministerial decree No.17/2010. In addition to that, it is aims to increase government revenue from royalties from coal producers. The minister of Energy & Mineral Resources of Indonesia and the Parliament of Indonesia (Commission VII, which is overseeing ministry of Energy & Mineral Resources) has agreed to implement the law 04/2009 fully by January 12, 2014.
Government has banned the export ban of unprocessed ore since 12 January 2014.
Click here for complete Indonesian coal price reference since January 2009.(cs)
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Monday, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing w ...
Sunday, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
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- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Planning Commission, India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- PTC India Limited - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
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