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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, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
Thursday, 10 July 14
SGX EXPANDS ACROSS THE BULKS WITH NEW COAL PRODUCTS
COALspot.com: Singapore Exchange (SGX) is expanding its bulk commodity derivatives offering by launching new coking and thermal coal products on 4 ...
Thursday, 10 July 14
HANDY: SMALL INCREASE; PANAMAX: POSITIVE TONE; CAPESIZE: PAPER VALUES REMAIN WEEK
Handy
It is a general increase in activity in both hemispheres whereas rates have just experienced a small increase. In the Feast we see stable a ...
Wednesday, 09 July 14
SHIP INVESTMENTS ARE TRENDING LOWER
Most ship owners are deeming current ship prices on the high side, refraining from making serious commitments in new acquisitions or newbuilding or ...
Wednesday, 09 July 14
INDIAN GOVERNMENT ADVISED POWER UTILITIES TO INCREASE COAL IMPORTS
COALspot.com: The government of India has advised power utilities to increase coal imports to meet fuel shortages and those that have fuel supply p ...
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- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- PTC India Limited - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
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