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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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Thursday, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for ...
Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH
Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact ...
Wednesday, 21 November 12
ORPHEUS ENERGY SECURES FIRST COAL OFF TAKE CONTRACT
COALspot.com - Orpheus Energy Limited (ASX:OEG) has announced that it has signed a coal sales contract with an Indonesian steel manufacturing compan ...
Tuesday, 20 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 13.18 PERCENT LESS COAL W-W
COALspot.com - Newcastle port in Australia has loaded 2,691,731 MT of thermal and coking coal for week ended 0700 hours 19 November 2012, Newc ...
Monday, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
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- Malabar Cements Ltd - India
- McConnell Dowell - Australia
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- PTC India Limited - India
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- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Economic Council, Georgia
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- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
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- Kaltim Prima Coal - Indonesia
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- The Treasury - Australian Government
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- Holcim Trading Pte Ltd - Singapore
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- Chamber of Mines of South Africa
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- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
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- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
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- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
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- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
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- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
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- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
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- Lanco Infratech Ltd - India
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- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
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- Altura Mining Limited, Indonesia
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- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
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- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
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- MS Steel International - UAE
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