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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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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
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.
...
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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- Essar Steel Hazira Ltd - India
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- Central Electricity Authority - India
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- The University of Queensland
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- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
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- Formosa Plastics Group - Taiwan
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- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
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- White Energy Company Limited
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- Trasteel International SA, Italy
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- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
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- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
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- Eastern Coal Council - USA
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- Manunggal Multi Energi - Indonesia
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- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
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- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
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- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
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- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
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- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
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- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
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- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
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- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
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- PNOC Exploration Corporation - Philippines
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- The State Trading Corporation of India Ltd
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- Commonwealth Bank - Australia
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