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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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Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
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- Sree Jayajothi Cements Limited - India
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- Ceylon Electricity Board - Sri Lanka
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- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
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- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
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- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
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- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
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- New Zealand Coal & Carbon
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- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
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- Africa Commodities Group - South Africa
- PTC India Limited - India
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- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
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- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
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- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
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- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
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- Kideco Jaya Agung - Indonesia
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- Petron Corporation, Philippines
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- Directorate Of Revenue Intelligence - India
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- Ministry of Finance - Indonesia
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- The University of Queensland
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- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
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- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
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- Sical Logistics Limited - India
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- Maheswari Brothers Coal Limited - India
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- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Singapore Mercantile Exchange
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