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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, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Eastern Coal Council - USA
- The University of Queensland
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- IEA Clean Coal Centre - UK
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- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
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- White Energy Company Limited
- Orica Australia Pty. Ltd.
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- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
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- New Zealand Coal & Carbon
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- Sical Logistics Limited - India
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- Wilmar Investment Holdings
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- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Singapore Mercantile Exchange
- PTC India Limited - India
- The State Trading Corporation of India Ltd
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- Larsen & Toubro Limited - India
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- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
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- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
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- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
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- TeaM Sual Corporation - Philippines
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- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
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- Indika Energy - Indonesia
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- Meenaskhi Energy Private Limited - India
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- Vedanta Resources Plc - India
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- India Bulls Power Limited - India
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- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- The Treasury - Australian Government
- Indogreen Group - Indonesia
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- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
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- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
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- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
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- SMC Global Power, Philippines
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- Essar Steel Hazira Ltd - India
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- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
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- Formosa Plastics Group - Taiwan
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- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
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- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Australian Coal Association
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
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