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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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- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
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