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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, 14 January 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In Oil we trust! The Barrel price has declined by almost a third in comparison to the 2014 January and has being on the downhill since early last s ...
Wednesday, 14 January 15
COMMODITIES AREN'T PRIMED FOR A REBOUND DURING 2015: SHIPPING COULD BENEFIT FROM LOWER PRICES - ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In the recent past, higher commodity prices were driven by an increase in demand from developing countries, which spelled good news for ship owners ...
Wednesday, 14 January 15
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week.
The Q1 swap has fell US$ 1.53 (-3.15 ...
Wednesday, 14 January 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED 4.51% LOWER COMPARED TO Q1' 15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.56 per MT (-3.0%) month over month and US$ 1.03 (-2.0%) week ove ...
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 ...
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- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
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- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
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- Goldman Sachs - Singapore
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- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
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- AsiaOL BioFuels Corp., Philippines
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- Ministry of Transport, Egypt
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- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Planning Commission, India
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- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Eastern Coal Council - USA
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- Bhatia International Limited - India
- New Zealand Coal & Carbon
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- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
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- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
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- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
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- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
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- Pipit Mutiara Jaya. PT, Indonesia
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- Australian Coal Association
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- Global Business Power Corporation, Philippines
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- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
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- South Luzon Thermal Energy Corporation
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- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
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- Formosa Plastics Group - Taiwan
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- Australian Commodity Traders Exchange
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- Pendopo Energi Batubara - Indonesia
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- Georgia Ports Authority, United States
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- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
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- Parliament of New Zealand
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- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- ICICI Bank Limited - India
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- Electricity Generating Authority of Thailand
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- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
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- GAC Shipping (India) Pvt Ltd
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- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
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- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
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- The University of Queensland
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- VISA Power Limited - India
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