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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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- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Interocean Group of Companies - India
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- The University of Queensland
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- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
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- San Jose City I Power Corp, Philippines
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- Minerals Council of Australia
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- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
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- Straits Asia Resources Limited - Singapore
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- Baramulti Group, Indonesia
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- Bayan Resources Tbk. - Indonesia
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- Ceylon Electricity Board - Sri Lanka
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- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
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- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
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- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
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- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
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- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
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- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
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- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
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- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Mjunction Services Limited - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
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- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
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- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
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- Bangladesh Power Developement Board
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- Sakthi Sugars Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
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- Holcim Trading Pte Ltd - Singapore
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- Intertek Mineral Services - Indonesia
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- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Australian Coal Association
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- SMC Global Power, Philippines
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- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Parliament of New Zealand
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