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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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Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
Monday, 11 August 14
SGX CFR SOUTH CHINA COAL SWAPS DIRECTION HEADING TO NORTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.50 (+0.74%) day on day and US$ 1.55 (+2.33%)&nbs ...
Monday, 11 August 14
A TALE OF TWO TRADES - EVA TZIMA
COALspot.com: It has without a doubt been “a cruel, cruel summer” for the Dry Bulk market so far and with second hand values still stan ...
Sunday, 10 August 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com: This week the BDI and other segments saw some improvements. The BDI increased by 3.46 pct week on week and closed at 777 points.
...
Friday, 08 August 14
MINING DISPUTE IS CRIPPLING LOCAL ECONOMIES IN EASTERN INDONESIA - JG
- By Iwan Harsono -
It seems as if there’s no end in sight to the series of negotiations between the government and mining companies about ...
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- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
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