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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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Sunday, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
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- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
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- White Energy Company Limited
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- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
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- Africa Commodities Group - South Africa
- The University of Queensland
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- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
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- Wilmar Investment Holdings
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- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
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- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- Mercator Lines Limited - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
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- Eastern Coal Council - USA
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- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
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- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
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- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
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- Tata Chemicals Ltd - India
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- Global Business Power Corporation, Philippines
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- Power Finance Corporation Ltd., India
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- Australian Coal Association
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- Kumho Petrochemical, South Korea
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- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
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- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
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- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
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- Indonesian Coal Mining Association
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- Romanian Commodities Exchange
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- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
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- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
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- Coal and Oil Company - UAE
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- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
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- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
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