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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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- Bhatia International Limited - India
- Trasteel International SA, Italy
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
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- Kumho Petrochemical, South Korea
- Economic Council, Georgia
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- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
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- Orica Australia Pty. Ltd.
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- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
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- Goldman Sachs - Singapore
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- Straits Asia Resources Limited - Singapore
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
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- Edison Trading Spa - Italy
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- Sical Logistics Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- CIMB Investment Bank - Malaysia
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- Merrill Lynch Commodities Europe
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- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Parliament of New Zealand
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
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- Indonesian Coal Mining Association
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- Georgia Ports Authority, United States
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- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
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- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Mjunction Services Limited - India
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- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
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- Ministry of Finance - Indonesia
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- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
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