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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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Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
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- Planning Commission, India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- The University of Queensland
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
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