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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, 21 May 14
SHIPPING: MARKET INSIGHT - GEORGE LAZARIDIS
The recent revision by the OECD of its global growth forecast has sparked a debate as to the potential outcome these new figures will have on seabo ...
Tuesday, 20 May 14
NEWCASTLE'S COAL EXPORT VOLUME UP 39.11 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 19 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Tuesday, 20 May 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with sl ...
Tuesday, 20 May 14
DRY BULK MARKET IS BOUND FOR A RECOVERY CLAIMS PARAGON SHIPPING'S HEAD MICHAEL BODOUROGLOU
The dry bulk market is bound for a recovery in the coming weeks, as the market will be better balanced, said Mr. Michael Bodouroglou, Chairman and ...
Monday, 19 May 14
INDO COAL SWAPS FOR AVERAGE Q3' 2014 DELIVERY LOST ON WEEK AND ON MONTH
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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- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
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