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Monday, 29 September 14
INDONESIAN COAL EXPORT VOLUME FALL IN AUGUST
 COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 * billion worth of coal in August 2014. According to our sources, the average export price of coal in August 2014 was around US$ 53.63* per mt. The average selling price of August was increased by US$ 0.54 per MT from July 2014.
Country's August 2014 export volume down 10.28%* compared Indonesia's July 2014 export volume.
Indonesia shipped around 28.01* million tons of coal in August 2014, around 10.28%* per cent lower compared to country's July 2014 exports of 31.22* million tons.
According to information that we obtained from various sources, China, the world’s largest coal producer and the net importer of coal has imported just around 5.59* million tons of Indonesian coal in August 2014 or around 11.82%* lower than its July coal imports from Indonesia.
India's coal imports from Indonesian in August also decreased by 16.99%* to 9.01* million tons compared to its July 2014 imports. Indonesia shipped around 10.84* million tons of coal in July 2014 to India.
According to Indonesian coal exports statistics, India is a leading importer of Indonesian coal for past few months.
India & China
India and China are the major Indonesian coal importers for last few years and Indonesian coal outputs, almost depends on Chinese and Indian imports. India is the major buyer of Indonesian medium to low calorific value coal while China buys medium to higher value coal from Indonesia.
Indian utilities particularly state owned power producers buy Indonesian medium calorific value coal due its competitive price. According to market information the Indonesian ultra low calorific value coal is being sold to India around mid to low twenties. In the meantime, Indonesian high value coal, such as 6000 GAR and above coal prices stood at high eighties. Japan & South Korea are the major buyers of Indonesian high calorific value coal. Due to freight advantages, the Indonesian higher value coal prices are higher compare to other origins of high grade coal prices.
According to information that we obtained from the market participants show that, the Indonesian high calorific value coal's FOB prices were reached above US$ 80 to 89 per Mt in August 2014. In the meantime, the most of the very high moisture coal was sold around mid to low twenties and most of low calorific value coal been exported to India.
Indonesian coal prices were showing a flat trend this week and according to COALspot.com’s weekly coal assessment the prices for 5800 GAR coal being offered around US$ 64.00 per MT against bids of around US$ 62.00 levels. The 5000 GAR coal being offered around US$ 52.50 level against bids of US$ 51.00 levels.
Around 52.12%* (55.05%* in July) of total Indonesian coal exports in August shipped to India and China.
Indonesia shipped 16.99%* less coal to India in August 2014 compared to country's July exports of 10.84* million tons. Indonesia's exports mostly low calorific value coal to India. Indian buyers used to buy below 5000 GAR coal particularly 4200 coal from Indonesia, which is according to them more economically benefited and attractive compare to high GCV coal such as above 6000 GAR coal.
International markets have traditionally been the principle destination for Indonesian thermal coal, with around 80.87%* (80.77%* in July 2014) of the county's total thermal coal exports in August 2014 shipped to India, China, South Korea, Japan & Taiwan.
Indonesia shipped 5.59* & 6.34* million tons of coal to China in August & July 2014 respectively.
Indonesia's export thermal coals are bituminous to sub-bituminous in rank with widely varying ash, moisture and sulphur characteristics. In Indonesia, coals with as-received heat contents in excess of 5300 kcal/kg (gar) are generally classified as bituminous coals while coals with as-received heat contents of 4100 to 5300 kcal/kg (gar) are classified as sub-bituminous coals and below 4100 kcal/kg (gar) coals are classified as sub-bituminous "C" grade.
Indonesian Coal Price Reference
According to the Indonesian mining law 4/2009, all coal miners in Indonesia to require to follows the government declared coal prices (HBA) when they conclude a coal sale and purchase contract with their buyers either on spot or terms. The Director General of Mineral and Coal’s declared the minimum selling price for Indonesian coal for September 2014 delivery is 0.85% lower than August 2014 declared price.
The reference price is to be used by coal producers for all 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-5900, 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.
The government declared HBA for September 2014 lost US$ 0.60 per mt month on month and US$ 7.20 pmt year on year (September 2013).
The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price benchmark for September 2014 delivery at US$ 69.69 per ton (basis 6322 GAR coal), which is 0.85% lower than August 2014 price and 9.36% lower compared to the same period in 2013.
Royalty Increase; Export Duty
According to available information, the Indonesian government is studying a proposal to increase royalty on coal for IUP holders as well as to introduce an export duty for coal.
The trade ministry has also issued a new regulation on shipments requiring miners to register themselves as exporters and obtain ET-Batubara at the trade ministry. The government also planning to allow coal shipments through selected or approved ports. Media reports say that, the government has already identified the ports that to be used to export coal.
ET-Batubara requirement will be implemented from 1 October 2014 for all type of coal exporters. The Government hopes that; this restriction will help authorities to implement better monitoring system to eliminate illegal mining. According to media reports around 50 million tons coal being exported without clear approvals or licenses from relevant departments and which is causing losses to country in terms of taxes as well as royalties. Currently Indonesia is having hundred of barge loading ports and anchorage loading point to support coal loading in South, East and North Kalimantan as well as Sumatera Island.
Domestic coal requirement is also expected to reach around 95.5 million tons in 2014 compared to around 65 million tons in 2013. Indonesian Coal Industry executives are in the opinion that, increase of domestic requirements for coal this year and implementation of tough regulations and rules on coal exports will help to push the coal prices upwards.
Indonesia is to maintain the same level of coal output of 2013 for year 2014. According to media reports, Indonesia will only produce around 421 million mt of coal in 2014 or the same volume that produced in 2013.
Chinese restrictions on use of low quality coal
As part of Chinese environmental policy, the Chinese government announced a plan to restrict the use of low quality coal domestically.
According to Wood Mackenzie there is still considerable uncertainty about how the quality restrictions will be applied. “At face value they would apply to a large portion of total Chinese import demand however if not applied to power utility consumption then the impact will be far less significant,” said Wood Mackenzie recently.
Wood Mackenzie further noted that, the quality restrictions apply to both imported and domestic coal and therefore will increase demand for imported coal because imported coal is generally lower ash and sulphur than domestic coal.
Wood Mackenzie is in opinion that, Indonesian exports are generally low sulphur and ash and consequently will stand to benefit from the ban.
Not all imported coal would satisfy the 16% ash and 1% sulphur limits including approximately 80% of Australian high ash exports to China. Australian exporters would be able change the processing of the coal to meet the 16% ash limit however the associated increase in cost would threaten the economics of these exports, Wood Mackenzie concluded.
Cancellation of 214 coal blocks
Recently, Indian Supreme Court scrapped 214 of 218 coal mining licences awarded from 1993-2010 after finding they had been awarded illegally. 46 coal blocks out of cancelled 214 coal blocks - where some work had begun ahead of actual mining - had been given six months to wind down their operations.
"The estimated loss of Rs. 295/- (approximately US$ 4.80) per metric ton of coal is, accepted by court. Court ordered to pay the compensatory payment on this basis within a period of three months and in any case on or before 31st December, 2014. The coal extracted hereafter till 31st March, 2015 will also attract the additional levy of Rs. 295/- (approximately US$ 4.80) per metric ton", the court ruled.
According to Reuters, India's annual coal imports could jump by as much as a third to more than 200 million tonnes for the next few years as a result of a court ruling this week that will halt mining of the resource by most private companies from next year.
The Chinese government's announcement to restrict the use of low quality coal domestically by next year, the cancelation of 214 coal mining licences by Indian Supreme Court and the trade ministry of Indonesia's new regulation on coal exports requiring miners to register themselves as exporters and obtain ET-Batubara is expected to push the prices upward as the demand for coal is expected to increase compared to supply volume due to those new regulations and orders.
**The coal export information within this article is provided by COALspot.com on an "as is" and "as available” basis. All details about, given in good faith and has been collected from various press reports, organization and individuals considered reliable but without guarantee. While, every care has been taken to ensure, the accuracy of information furnished in this article, COALspot.com does not accept any responsibility or liability for any damage or loss caused to any person as a result of any action taken on the basis of this information.
COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.* All figures (volume, revenue and price) are subject to verification. Average selling price mentioned here is average selling price of from ultra low calorific coal to bituminous coal (cs)
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Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
Wednesday, 26 November 14
SHIPPING MARKET INSIGHT - EVA TZIMA
The tanker market has been enjoying some good returns lately. Ok, that may be a big understatement, but with all the ups and downs of the past year ...
Tuesday, 25 November 14
FISCAL BREAKEVEN OIL PRICES SHOW SOVEREIGN VULNERABILITY - FITCH
COALspot.com: The vulnerability of the sovereign credit profiles of net oil exporters, as shown by their fiscal breakeven oil prices, suggests that ...
Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or ...
Tuesday, 25 November 14
FOB RICHARDS BAY COAL SWAP FOR Q4' 15 DELIVERY CLOSED AT US$ 68.20
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 gained month on month, week on week and day over day.
The Q1 swap has gain ...
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- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- ASAPP Information Group - India
- VISA Power Limited - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
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