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Monday, 15 December 14
INDONESIAN COAL PRICE REFERENCE CRASHES THROUGH $65
 COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in December. HBA for the month of December sets at US$ 64.65. The current month price reference for Indonesian coal fell US$ 1.05 pet MT month over month. The declared Indonesian Coal Price Reference for this month was the lowest since June 2009.
December HBA have dropped to an 69-month low with the government declared HBA falling to US$ 64.65 a ton. Indonesian some Coal miners axe jobs and suspend mine operations as falling prices and reduced demand. The highest HBA was declared in February 2011 at US$ 127.05 per MT, which was US$ 62.40 per MT higher than this month’s declared HBA.
The excess coal output compared to a low demand is a significant contributing factor for coal prices fall for last few months or year. World’s recent oil price decline may push further the current coal prices to more deeper or delay the recovery of coal prices.
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Indonesian coal benchmark price for December 2014 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the November 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 December 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 December 2014 was 19.49 per cent or $15.66 lower compared to the same period in year 2013. In the meantime, December 2014 HBA was US$ 62.40 or 49.11% lower compared to all time higher HBA which was declared in month of February 2011.
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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 December price was only valid for the spot price (loading on or before 31 December 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 fulfill 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.
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Click here for full details of Indonesian coal price reference since January 2009.(cs). Last Update:15 Dec 2014 09:44 GMT +08:00
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Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
Tuesday, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
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- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
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- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- The University of Queensland
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
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