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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, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
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- White Energy Company Limited
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- Thai Mozambique Logistica
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- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
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- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
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- Billiton Holdings Pty Ltd - Australia
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- Romanian Commodities Exchange
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- Ministry of Finance - Indonesia
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- Heidelberg Cement - Germany
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- Minerals Council of Australia
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- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
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- GAC Shipping (India) Pvt Ltd
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- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
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- SMC Global Power, Philippines
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- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
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- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
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- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
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- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
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- Banpu Public Company Limited - Thailand
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- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
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