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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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Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
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- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
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- Ministry of Finance - Indonesia
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- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
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- Eastern Coal Council - USA
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- McConnell Dowell - Australia
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- Directorate Of Revenue Intelligence - India
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- Commonwealth Bank - Australia
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- Romanian Commodities Exchange
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- Trasteel International SA, Italy
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- Directorate General of MIneral and Coal - Indonesia
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- Renaissance Capital - South Africa
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- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
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- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Central Electricity Authority - India
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- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
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- VISA Power Limited - India
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- Thai Mozambique Logistica
- Star Paper Mills Limited - India
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- Coal and Oil Company - UAE
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- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
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- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
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- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
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- Agrawal Coal Company - India
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- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
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- The Treasury - Australian Government
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- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
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