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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.
HBA for the month of October sets at US$ 67.26, US$ 2.43 lesser than last month HBA of US$ 69.69 per MT. The declared Indonesian Coal Price Reference for this month is the lowest since October 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 around 28 - 30 million per month despite low coal prices. The government of Indonesia recently introduced ET-Batubara requirement to control coal export flow out of country.
October declared HBA is 7.05% or US$ 4.43 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.
Indonesian coal benchmark price for October 2014 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the June 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 – 31 October 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 October 2014 was 12.20% or $ 9.35 lower compared to the same period in year 2013 and also US$ 59.79 or 47.06% lower compared to all time high declared 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).
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In the meantime, this month declared HBA was the lowest declared price in 2014. October HBA lost 17.88% or US$ 14.64 pmt since January 2014. The government has sets January 2014 HBA at US$ 81.90 per Mt.
The price was only valid for the spot price (loading on or before 31 October 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% 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
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 ...
Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
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- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
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