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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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Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has ann ...
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- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
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- GMR Energy Limited - India
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- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
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- Semirara Mining and Power Corporation, Philippines
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- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
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- Orica Mining Services - Indonesia
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- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
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- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
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- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
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- Ministry of Finance - Indonesia
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- Indonesian Coal Mining Association
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- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
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- Bangladesh Power Developement Board
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- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
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- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
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- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
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- Altura Mining Limited, Indonesia
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- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
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- European Bulk Services B.V. - Netherlands
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- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
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- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
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- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
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- Sical Logistics Limited - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Baramulti Group, Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
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