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Tuesday, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
 COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal reference price for coal sales in February 2013 gained 0.91 percent compared to last month. The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price for February 2013 at US$ 88.35 per ton, US$ 0.80 higher than January 2013 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 January 2013 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 – 28 February 2013.
Energy and Mineral Resources Deputy Minister Rudi Rubiandini said early last 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% from December 2012 price and the February 2013 price has up only by 0.91 percent 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 consumers are back to field to source the coal.
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 February 2013 HBA is 23.23 percent or $ 20.82 lower Y-o-Y basis.
The price was only valid for the spot price (loading on or before 28 February 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. However the industry players are in opinion that, the government may not proceed further with LOW GCV coal export ban by early next year as planned earlier.
According to local media reports, the Supreme court of Indonesia 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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Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
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- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Australian Coal Association
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
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