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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, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
Wednesday, 02 July 14
HANDY BULKERS PROVE TO BE THE MOST SOUGHT AFTER VESSELS OVER THE PAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Handy dry bulker proved to be the most sought after ship by ship owners active in the second hand market, which saw a slight decline in terms o ...
Wednesday, 02 July 14
SHIPPING: MARKET INSIGHT - GEORGE DERMATIS
After 6 months, 57 ministerial meetings and 67 political agreements, the journey of the Greek Presidency in the EU reached its end yesterday; only ...
Tuesday, 01 July 14
INDIAN POWER PLANT COAL STOCKPILES VERY LOW
COALspot.com: According to today's Weekly Dry Bulk Report published by Commodore Research, Indian power plant coal stockpiles have now fallen t ...
Monday, 30 June 14
SUB-BIT FOB INDONESIA COAL PRICES ARE STILL STRUGGLING TO RECOVER
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
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- Holcim Trading Pte Ltd - Singapore
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- The State Trading Corporation of India Ltd
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- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
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- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
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- Wilmar Investment Holdings
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- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
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- Straits Asia Resources Limited - Singapore
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- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- PTC India Limited - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
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