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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, 26 May 14
SUB-BIT FOB INDO COAL SWAP Q1' 15 DELIVERIES CLOSED AT US$ 59.40 PER MT
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 26 May 14
Q3 14 CFR SOUTH CHINA COAL SWAPS LOST 2.24% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.24 percent month on month and closed at US$ 73.88 per mt as on F ...
Monday, 26 May 14
NEWBUILDING ORDERING ACTIVITY RISES BY 78% IN DWT TONNAGE OVER THE FIRST 4 MONTHS OF THE YEARS, AS OWNERS INVEST$40.5 BN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have plunged into newbuilding orders during the first four months of the year, as overall newbuilding business ended for the first four ...
Sunday, 25 May 14
FREIGHT RATES FROM SOUTH KALIMANTAN TO EAST COAST INDIAN PORTS WERE ASSESSED AT $9.50/MT
COALspot.com: The BDI was closed at 964 points down by 6.13 pct week on week. The Cape Index was lost 172 points or 11.24% week on week and closing ...
Saturday, 24 May 14
DRY BULK MARKET'S RECOVERY IS JUST AROUND THE CORNER SAYS SHIPOWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the weaker than expected market sentiment in the dry bulk market over the course of the past few months, analysts and shipowners alike appe ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
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- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
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