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Monday, 19 January 15
HBA FALL TO FRESH LOWS; COAL OVERSUPPLY WILL CONTINUE TO PUSH PRICE DOWN
 COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 63.84. The January price reference for Indonesian coal fell US$ 0.81 or 1.25% month over month. The declared Indonesian Coal Price Reference for this month was the lowest since May 2009.
January 2015 HBA has dropped to an 67-month low with the government declared HBA falling to US$ 64.65 a ton. Indonesian some small scale 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$ 63.84 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 year. World’s recent oil price decline may also further push down the current coal prices to more deeper or pause the recovery of coal prices.
Indonesian coal benchmark price for January 2015 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the December 2014 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-5900 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25%.
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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 January 2015.
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 January 2015 was 22.05 per cent or $18.06 lower compared to the same period in year 2014. In the meantime, January 2015 HBA was US$ 63.21or 49.75% lower compared to all time high HBA which was declared in month of February 2011.
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 January price was only valid for the spot price (loading on or before 31 January 2015), 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 66 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.
The coal prices are now trying to settle at new level and it may not possible to see the price levels of year 2008 or 2012 once again in near future. The falling oil prices are now join hands with the excess coal supplies , weak demand to delay the recovery of coal prices from this level to higher level in coming months. It would be nice to see coal prices settle at a point where both the producer and consumer can sustain.
Click here for full details of Indonesian coal price reference since January 2009.(cs).
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Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
Tuesday, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and s ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has fell ...
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- Sree Jayajothi Cements Limited - India
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- Eastern Energy - Thailand
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- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
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- CIMB Investment Bank - Malaysia
- Australian Coal Association
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- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
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- Economic Council, Georgia
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- Singapore Mercantile Exchange
- Wilmar Investment Holdings
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- Global Business Power Corporation, Philippines
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- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
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- Directorate Of Revenue Intelligence - India
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- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
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- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Indian Energy Exchange, India
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- The Treasury - Australian Government
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- Planning Commission, India
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- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
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- New Zealand Coal & Carbon
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- Bhatia International Limited - India
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- Indonesian Coal Mining Association
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- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
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- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
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- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
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- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Meenaskhi Energy Private Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
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