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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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Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
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- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
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