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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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- Sindya Power Generating Company Private Ltd
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- Indian Energy Exchange, India
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- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
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- Bukit Baiduri Energy - Indonesia
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- The Treasury - Australian Government
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- PTC India Limited - India
- San Jose City I Power Corp, Philippines
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- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
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- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
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- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
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- Australian Coal Association
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- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
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- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
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- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
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- Pipit Mutiara Jaya. PT, Indonesia
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- Samtan Co., Ltd - South Korea
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- Commonwealth Bank - Australia
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- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
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- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
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- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
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- Ambuja Cements Ltd - India
- Posco Energy - South Korea
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
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- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
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- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
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- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
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- Eastern Energy - Thailand
- Interocean Group of Companies - India
- VISA Power Limited - India
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- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
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