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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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Wednesday, 09 July 14
PANAMAX MARKET FINALLY CORRECTING UPWARDS; AVERAGE TC MORE THAN DOUBLING WEEK ON WEEK - INTERMODAL
The Dry Bulk market has closed off on Friday on a more positive note, with most segments noting weekly gains and the Panamax market finally correct ...
Wednesday, 09 July 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
The mini-boom in dry bulker values catapulted ship prices too fast too far over the last one-and-a-half year. The concurrence of historically low p ...
Tuesday, 08 July 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN IN JULY; LOST 1.62%
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia again revised down the coal bench mark price in July. HBA for month of J ...
Tuesday, 08 July 14
ENERGY IN THE MIX - INTERMODAL SHIPBROKERS
With the Tanker freight market having showed much promise this year compared to the performance that had been noted during the previous five, it is ...
Monday, 07 July 14
INDONESIA STATE-CONTROLLED COAL MINER BUKIT ASAM TO TRADE COAL ON-LINE THROUGH JFX
COALspot.com: Indonesian state owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) has teamed up with Jakarta Futures Exchange (JFX) to sell ...
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- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- The University of Queensland
- White Energy Company Limited
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
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