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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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Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
Wednesday, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
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- Ministry of Transport, Egypt
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- Commonwealth Bank - Australia
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- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
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- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
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- Wilmar Investment Holdings
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
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- Goldman Sachs - Singapore
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- Indian Energy Exchange, India
- Indonesian Coal Mining Association
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- Power Finance Corporation Ltd., India
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- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
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- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
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- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
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- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Aditya Birla Group - India
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- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
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