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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, 16 June 14
API 8 CFR SOUTH CHINA COAL SWAPS FALL CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.34 percent month on month and closed at US$ 71.05 per mt a ...
Sunday, 15 June 14
COAL FREIGHT RATES FALL FURTHER ON LACK OF DEMANDS - CAPT. REDDY
COALspot.com: The BDI softened this week as all segments fell this week. The Panamax sector being most affected. The Cape index was down 3.51 pct w ...
Friday, 13 June 14
US COAL PRODUCTION FELL 3% IN WEEK THAT ENDED JUNE 7, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yest ...
Thursday, 12 June 14
INDONESIA SETS HBA FOR MONTH OF JUNE AT US$ 73.64
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised up first time in last four months the coal bench mark price. ...
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- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
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- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
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- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
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- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
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- Orica Australia Pty. Ltd.
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- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Rio Tinto Coal - Australia
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- Bhatia International Limited - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
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- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
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- Meralco Power Generation, Philippines
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- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
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- Binh Thuan Hamico - Vietnam
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- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
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- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
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- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
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- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
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- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
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- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
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