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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, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
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- Ministry of Finance - Indonesia
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- Economic Council, Georgia
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- Minerals Council of Australia
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- The Treasury - Australian Government
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- Eastern Coal Council - USA
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- PTC India Limited - India
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- PowerSource Philippines DevCo
- The University of Queensland
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- SMG Consultants - Indonesia
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- Rio Tinto Coal - Australia
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- Planning Commission, India
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- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
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- Ministry of Transport, Egypt
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- VISA Power Limited - India
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- Gujarat Sidhee Cement - India
- Australian Coal Association
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- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
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- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
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- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
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- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
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- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
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- Global Green Power PLC Corporation, Philippines
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- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
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- Kobexindo Tractors - Indoneisa
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- Mintek Dendrill Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Therma Luzon, Inc, Philippines
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- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
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- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
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- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
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- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
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- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
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