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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, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
Monday, 30 June 14
INDO - INDIA FREIGHT RATES CONTINUE TO WEAK
COALspot.com: The latest dry Index shows that average all-in spot freight declined, the Panamax and Supramax slipping by 9.11 percent and 4% respec ...
Friday, 27 June 14
DRY BULK MARKET STILL LOOKING FOR UPSIDE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept up its lacklustre performance during the past week, as evidenced by the course of the Baltic Dry Index (BDI). The BDI ...
Thursday, 26 June 14
PANAMAX : A PACIFIC ROUND PAYS AROUND US$ 3K DAILY - FEARNLEYS AS
Handy
In the Atlantic there has been little activity which again has caused rates to slip across all trades. TA´s are now down to US$ 5,500 ...
Thursday, 26 June 14
KOMIPO INVITES BIDS FOR TOTAL 750K MT OF BITUMINOUS COAL FOR 3CY
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) has issued a new tender for supply of total 250,000 MT of bituminous co ...
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- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Australian Coal Association
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- The University of Queensland
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
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