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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
 COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1.42 per ton in May 2011.
This coal benchmark was calcualted coal with calorie of 6,322kcal/kg (GAR), stated to be using formula based on the May 2011 index average of ICI-1 (Indonesia Coal Index), Platts-1, NEX (Newcastle Export Index), and GC (globalCoal Index).
Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur 0.8%, Ash Content 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 - 30 June 2011.
The government of Indonesia has been publishing a monthly coal reference price (HBA) since February 2010 to be used by coal producers for all future spot and term contracts. The June HBA was 22.43 percent higher Y-o-Y.
The price is only valid for spot price, while as for term price, the benchmark is using the average of recent 3 months benchmark prices and valid for coal contract at least 12 months.
Government also declared reference price for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands are act as benchmark and used to calculate other 54 coal types with a quality similar to the coal price markers.
For sales in barge, the reference price is reduced by barging and transshipment costs from barge to vessel.
The coal reference price, which has been established to fulfill the requirement of mining law 04/2009 and latest ministerial decree 17/2010 and also aims to increase government revenue from royalties from coal producers. According to industry, all existing coal supply agreements with Indonesian coal mining companies will have to be revised to comply with new coal pricing regulations before September 23, 2011.
As a result of the Indonesian new pricing formula, price of Indonesian coal will go up by $30 a tonne and lead to a INR 0.70 (Approx. US$ 0.015) per unit increase in cost of electricity generation, as quoted by an Indian paper.
Indonesian coal prices are also gaining on a shortage of coal in China to meet summer demand, said a coal trader from Kalimantan. Chinese local media reported that, Beijing may cut the 17 percent value-added tax and port charges on imported coal to encourage more overseas purchases. China is now facing its worst summer power shortage in seven years, as quoted by Chinese as well as International medias.
Indian high energy demand also has influenced the coal prices in recent weeks says another coal trader from Jakarta.
Click here for complete details of Indonesian coal reference prices since Feb 2010.(cs)
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Wednesday, 20 April 11
TNPL SECURED 160K MT OF COAL WITH CALORIFIC VALUE 6000 GAD AT US$ 93.44 PMT
COALspot.com - Delhi based Knowledge Infrastructure Systems Pvt. Ltd once again offered the lowest price of US$ 93.44 per metric ton for calorific v ...
Wednesday, 20 April 11
TSI LAUNCHES GEO-COAL UPGRADING TECHNOLOGY
Simple yet effective process boosts calorific value of low rank coal to provide lower cost energy across the world.
Press Release - Total Sinergy ...
Wednesday, 20 April 11
ADARO TO PAY OUT RP 970B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, the annual shareholders meeting of coal producer PT Adaro Energy on Wednesday agreed on the disbursement of Rp 970.7 ...
Wednesday, 20 April 11
INDIA IMPORTS MORE COAL FROM INDONESIA
COALspot.com - Indonesian coal exports jumped 23.31 percent during March 2011. The world’s largest coal exporter shipped 27, ...
Tuesday, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
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- Straits Asia Resources Limited - Singapore
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- MS Steel International - UAE
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- PTC India Limited - India
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- Leighton Contractors Pty Ltd - Australia
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