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Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
 COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for the month of September sets at US$ 69.69 which 60 US cents lesser than last month HBA of US$ 70.29 per MT. The declared Indonesian Coal Price Reference for this month is the lowest since November 2009.
The current Indonesian coal prices are almost reflecting its 2009 levels due to various reasons including excess output compared to low demand. Government of Indonesia is trying to introduce new regulations to eliminate illegal coal mining to control the unaccounted coal outputs. The export volume of Indonesian coal is still above around 32 - 35 million per month despite low coal prices. The government of Indonesia recently introduced ET-Batubara requirement to control coal export flow out of country. According to government's revised regulation, the new regulation will be in force starting from 1st October 2014.
However, September declared HBA is 10.92% or US$ 6.89 higher compared to May 2009 bench mark price of US$ 62.83 per MT, which was the lowest declared price in history of HBA. In the meantime the highest HBA was declared in February 2011 at US$ 127.05 per MT, which was US$ 57.36 per MT higher than this month declared HBA.
Indonesian coal benchmark price for September 2014 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the August 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 September 2014.
The government of Indonesia is 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 was commenced since September 2011. According to government regulation, 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 for particular period.
The declared HBA of September 2014 was 9.36 per cent or $ 7.20 lower compared to the same period in year 2013. In the meantime, September 2014 HBA was US$ 57.36 or 45.15% lower compared to all time higher HBA which was declared in month of February 2011.
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 September 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 percent of the latest available month HPB, 30 per cent of one month prior HPB and 20 percent 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 65 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 fulfil 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.
Click here for complete Indonesian coal price reference since January 2009.(cs).
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Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
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- Indian Oil Corporation Limited
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- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
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- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
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- Global Coal Blending Company Limited - Australia
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- Ministry of Finance - Indonesia
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- SMC Global Power, Philippines
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- Wilmar Investment Holdings
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- Energy Link Ltd, New Zealand
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- Indian Energy Exchange, India
- Georgia Ports Authority, United States
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- Australian Commodity Traders Exchange
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- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
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- The University of Queensland
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- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
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- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
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- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
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- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
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- GMR Energy Limited - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
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