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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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Thursday, 12 June 14
HANDY : TA MARKET IS CONTINUING SOUTH WITH A DECREASE OF 26% W-O-W
Handy
The week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see ...
Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
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- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Minerals Council of Australia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- White Energy Company Limited
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
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