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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, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
Thursday, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
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- Toyota Tsusho Corporation, Japan
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
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- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
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- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
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- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
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- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Economic Council, Georgia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
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