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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, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
Monday, 28 July 14
Q3' 14, SUB-BIT FOB INDONESIA COAL SWAP GAINED $ 0.08 DAY ON DAY AND $ 0.68 WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 increased by just US$ 0.08 day on day and US$ 0.68 week on week. The swap was lost U ...
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- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
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