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Monday, 04 July 16
INDONESIA COAL PRICE REFERENCE CLIMBED 2.30% IN JULY
COALspot.com: The Indonesia Coal Benchmark Price increased in July 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of Coal industry in Indonesia who has authority to declare monthly benchmark price for Indonesian thermal coal, has declaring Indonesia coal benchmark price every month. The Mineral and Coal department had declared July 2016 HBA at US$ 53 per ton for 6322 GAR power plant coal on 1 July 2016.
The July 2016 HBA up nearly 2.3% from last month and declined 10.41% the comparable period in 2015.
The July 2016 price reference for Indonesian coal up 2.3% or US$ 1.19 a ton from June 2016. The July Indonesia benchmark price for coal was off 10.41% from the July 2015 price of US$ 59.16 a ton. An increase or decrease in four international coal indices such as ICI-1, Platts-5900, NEX and GC will cause an increase or decrease in HBA every month, as HBA is linked to those indices.
The coal price reference in Indonesia was established to fulfill 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.
According to the data from Director General shows that the government has fixed US$ 13.10 a ton (up 2.34 per cent month on month) for the coal with calorific value 2,995 kcal/kg on GAR with total moisture 50.10% on as received basis for July 2016 FOB vessel delivery. In the meantime, the government is also declared US$ 38.84 per ton as HPB for 5000 GAR coal with total moisture 22.40%, Ash 8.90% and Sulphur 0.54% for July 2016 deliveries.
The February 2016 Indonesia thermal coal reference price (or called HBA) was the lowest in 91 months and also since launching of HBA by the government of Indonesia in January 2009. The royalty and taxes will be calculated based on this declared HPB.
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Indonesian coal benchmark price for July 2016 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using a formula based on the June 2016 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-5900 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25% and its 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 apply to spot contract, delivery between 1 – 31 July 2016.
The highest benchmark price was declared by the Ministry of Energy & Mineral Resources of Indonesia in February 2011, and this month declared price is around US$ 74.05 a ton or 58.28 per cent lower compared to Feb’ 11 benchmark price.
The government of Indonesia was 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 and 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.
HBA of February 2011 was the highest since the launching of HBA by the government of Indonesia (US$ 127.05 / MT for 6322 GAR coal) and the lowest was declared in February 2016 (US$ 50.92 / MT).
The declared HBA in this month is valid for the spot price (loading on or before 31 July 2016), 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% of the latest available month HPB (this month) 30% one month prior HPB and 20% 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 67 coal types with a quality similar to the coal price markers.
The excess of coal supplies and weak demand, fast developments of renewable energy and attractive oil & Gas prices are still to be blamed for obstacle of price recovery or the main reasons for falling of coal prices. The unbalanced supply-and-demand equation means pricing won’t rebound meaningfully and the market becomes buyer's market and giving buyers an advantage over sellers in price negotiations.
According to coal miners, today’s coal price levels are no more supporting any new investments or new explorations in coal mine sectors. Some Indonesian large scale miners are increasing the production to keep their bottom line healthy while some other miners decreasing coal output to keep their coal supply tight. According to market information, small scale coal miners as well as ultra low calorific coal producers either closing down their operation or downscale the operation to keep themselves afloat at this difficult time.
A few large scale coal miners in Indonesia has already reduced their production in 2016 to address the current low price.
Click here for full details of Indonesian coal price reference since January 2009. (cs)
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Monday, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
Monday, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
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- Billiton Holdings Pty Ltd - Australia
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- Standard Chartered Bank - UAE
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- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
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- MS Steel International - UAE
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- Sarangani Energy Corporation, Philippines
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- Eastern Coal Council - USA
- The University of Queensland
- Chamber of Mines of South Africa
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- IEA Clean Coal Centre - UK
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- Kapuas Tunggal Persada - Indonesia
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- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- White Energy Company Limited
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
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- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
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- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
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- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
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- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
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- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
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- Sinarmas Energy and Mining - Indonesia
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- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
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- Africa Commodities Group - South Africa
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- Planning Commission, India
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- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
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- Therma Luzon, Inc, Philippines
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- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
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- Parliament of New Zealand
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