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Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
 COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price for coal sales in January 2013 gained 7.09 percent compared to last month.
The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price for January 2013 at US$ 87.55 per ton, US$ 5.80 higher than December 2012 bench mark Price.
This coal benchmark price was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the December 2012 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-5900 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25%.
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% (arb), Ash Content 15 % (arb) and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 31 January 2013.
Indonesian government has pushed its bench mark price for coal in January 2013 to higher side. Government has also forecasted that, the coal price (HBA) in 2013, will be much better than 2012.
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Energy and Mineral Resources Deputy Minister Rudi Rubiandini said early this month that, the Indonesian coal output would increase by 1.2 percent to 391 million tons from 386 million tons last year. According to, one of the leading English news paper in Indonesia, the Jakarta post, that the government had expected the Indonesia coal reference price (HBA) to reach over US$100 per ton this year following potential economic recovery as showed by the recent US fiscal-cliff budget deal, as quoted by Deputy Minister.
The country’s average HBA last year only reached $95.5 per ton, far below the average price level of $118.4 per ton throughout 2011. The January 2013 Indonesia coal reference price (HBA) has jumped by US$ 5.80 per MT or 7.09% M-o-M. If HBA continues its journey on this trend then, it may reach government prediction within end 2nd quarter 2013.
In the meantime, world coal analysts and coal industry experts are also predict that, the coal industry and price will improve in coming months as the prices are already in bottom level.
RBS Morgans chief economist Michael Knox said last November, during Brisbane's Major Projects Conference, of all commodities, oil prices always hit the bottom first before beginning to rise, followed by metals including iron ore. Metallurgical coal - used for steel production - was always later, followed by thermal coal.
"In coming months you will see a base in metallurgical coal," he said during conference cited by sunshine coastal daily of Australia. "You'll be able to say in a year's time that the low in metallurgical coal is behind us and you will see a rally (in prices). "Six months later, you will see a rally in thermal coal,” he said, the media further said.
Goldman Sachs, expects met prices to average US$178 per tonne in 2013, rising to US$195 per tonne in 2014. Many other analysts have made similar predictions, according to Northern Miner.
The government of Indonesia has been publishing a monthly coal reference price (HBA & HPB) since January 2009 to be used by coal producers for all spot and term contracts. However the full implementation of HBA has started only since September 2011.
The January 2013 HBA is 19.89 percent or $ 21.74 lower Y-o-Y basis.
The price was only valid for the spot price (loading on or before 31 January 2013), while as for term price (up to 12 months supplies), the average reference price (HPB) of the previous 3 months will be used to determine the selling price. (50% of latest available month HPB, 30% of one month prior HPB and 20% of two months prior HPB).
Government also declared reference price for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands are acted as the benchmark and used to calculate other 62 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 have been revised to comply with new coal pricing regulation, which was fully implemented on 23 September 2011.
The government has recently introduced export duty for unprocessed minerals but coal was missing in the recent regulation. According to Mining law 04/2009, the coal producers of Indonesia were asked to add value for their product such as washing, crushing, blending and upgrading to have a higher-value product prior to eye on the export market and avoid proposed export ban.
Supreme court of Indonesia has recently scrapped a government’s ban on the export of unprocessed minerals.
According to local media reports, the court had ordered the government to withdraw four chapters in the regulation, including one chapter limiting the exports of raw minerals since May 6. According to Ministerial Decree No. 7 on mineral processing, mining companies would only be granted mineral ore export permits after receiving CNC for their business licenses as well as showing commitment to establish smelters or cooperate with other companies to process their mineral ores for export.
Click here for complete Indonesian coal reference prices since January 2009.(cs)
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Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
Tuesday, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
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- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
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