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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, 05 August 09
PEOPLE'S MINING SHOULD BE REGULATED UNDER RPP MINERBA
The Indonesian Institute of Science (LIPI) has called on the government to include a specific provision for people’s mining in the draft govern ...
Tuesday, 04 August 09
SRI LANKA IS LOOKING FOR 650,000 TON OF COAL NEXT YEAR FOR ITS FIRST 900 MW POWER PLANT.
COALspot.com ( Sri Lanka) : Lanka Coal Company Limited was issued a tender on 23 July 2009 to purchase 650,000 +/- 20% MT Bituminous Coal per a ...
Monday, 03 August 09
ONE YEAR CHARTER RATES FOR SUPRAMAX WAS AT AROUND USD 18,500 - VISTAAR SINGAPORE
COALspot.com (Singapore) : The freight market was flat this week with hardly any change in the BDI.The cape was up by about 4 pct and closed at 5,38 ...
Saturday, 01 August 09
APGENCO SAYS BOUGHT 500,000T MALAYSIAN COAL
The Malaysian Insider reported that, Indian state utility Andhra Pradesh Power Generation Corporation Ltd (Apgenco) has bought 500,000 tonnes of Mal ...
Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
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- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
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- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
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- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- CNBM International Corporation - China
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- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
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- Romanian Commodities Exchange
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- Cement Manufacturers Association - India
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- Economic Council, Georgia
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- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
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- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
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- Altura Mining Limited, Indonesia
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- South Luzon Thermal Energy Corporation
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- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
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- Indonesian Coal Mining Association
- MS Steel International - UAE
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- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
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- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
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- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
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- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
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- Jorong Barutama Greston.PT - Indonesia
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- The Treasury - Australian Government
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- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Chamber of Mines of South Africa
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- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Eastern Coal Council - USA
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- Energy Link Ltd, New Zealand
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- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
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- Medco Energi Mining Internasional
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- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
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- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
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- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
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- Planning Commission, India
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- Bangladesh Power Developement Board
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- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Parliament of New Zealand
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- IHS Mccloskey Coal Group - USA
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- CIMB Investment Bank - Malaysia
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