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Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
 COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 per MT. The February price reference for Indonesian coal fallen by US$ 0.92 or 1.44% month over month. The declared Indonesian Coal Price Reference for this month was the lowest since May 2009 or needed only a US$ 0.10 to fall to beat the historic lowest HBA since the establishment of this reference price.
The government declared February 2015 HBA has fallen to a 68-month low and Indonesian some small scale coal miners axe jobs and suspended mining operations or scale down their production to address the effect of the falling prices and demand. However, surprisingly, the large scale coal mine operators in Indonesia are planning to increase the production in 2015. The highest HBA was declared in February 2011 at US$ 127.05 per MT, which was US$ 64.13 per mt higher than this month’s declared HBA of $ 62.92 per MT.
The excess coal output compared to a low demand is a significant contributing factor for coal prices fall for last few years. The world’s recent oil price decline also further push down the current coal prices to deeper or pause the recovery of coal prices temporarily.
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Indonesian coal benchmark price for February 2015 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using a formula based on the January 2015 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-5900 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25%.
February 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 – 28 February 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 a particular period.
The declared HBA of February 2015 was 21.78 per cent or $17.52 lower compared to the same period in 2014. In the meantime, February 2015 HBA was US$ 64.13 or 50.48% lower compared to all time high HBA which was declared in February 2011.
February 2011 declared HBA was the highest since the launching of HBA by the government of Indonesia (US$ 127.05 / MT) and the lowest was declared in May 2009 (US$ 62.83/ MT).
The February price was only valid for the spot price (loading on or before 28 February 2015), while as for term price (up to 12 months supply), 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).
The government also declared price marker for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands act 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 the vessel. The government has recently issued a regulation (644.K/30/DJB/2013 dated 21 March 2013) to regulate or determine coal prices on FOB barge. The government also fixed the freight for barging, surveyor, insurance and etc., to determine FOB barge price. Transshipment 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 being established to fulfil the requirement of mining law 04/2009 and ministerial decree No.17/2010. In addition to that, it aims to increase government revenue from royalties from coal producers.
The coal prices are now trying to settle at a new level and it may not possible to see the price levels of year 2008 or 2011 once again in near future. The weak oil prices are now joining hands with the excess of 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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Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
Tuesday, 10 February 15
IRON ORE MARKET TO REMAIN OVERSUPPLIED IN 2015: PRICE FORECAST $70/T - WOOD MACKENZIE
COALspot.com: With January witnessing the price of iron ore falling to its lowest levels since May 2009, Roger Emslie, Principal Metals & ...
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- Energy Development Corp, Philippines
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- The State Trading Corporation of India Ltd
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- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
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- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
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- Coalindo Energy - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- MS Steel International - UAE
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- McConnell Dowell - Australia
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- The University of Queensland
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- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Aditya Birla Group - India
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- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
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- Romanian Commodities Exchange
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- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
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- Sarangani Energy Corporation, Philippines
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- International Coal Ventures Pvt Ltd - India
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- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
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- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
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- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
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- VISA Power Limited - India
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- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
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- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
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- PTC India Limited - India
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- SMC Global Power, Philippines
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
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- Attock Cement Pakistan Limited
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- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
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- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
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