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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, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
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- Bangladesh Power Developement Board
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- Energy Link Ltd, New Zealand
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- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
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- Australian Coal Association
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- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
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- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Jaiprakash Power Ventures ltd
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- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
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- The University of Queensland
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- Planning Commission, India
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- Kohat Cement Company Ltd. - Pakistan
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- Xindia Steels Limited - India
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- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
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- Uttam Galva Steels Limited - India
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- Gujarat Electricity Regulatory Commission - India
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- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
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- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
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- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
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- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
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- Economic Council, Georgia
- Mintek Dendrill Indonesia
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- Singapore Mercantile Exchange
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- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
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- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
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- GMR Energy Limited - India
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- Price Waterhouse Coopers - Russia
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